AGF Management Ltd. Cuts Stock Position in Jacobs Solutions Inc. (NYSE:J)

AGF Management Ltd. trimmed its holdings in Jacobs Solutions Inc. (NYSE:J) by 70.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 357,107 shares of the company’s stock after selling 855,175 shares during the period. AGF Management Ltd. owned about 0.29% of Jacobs Solutions worth $49,891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in J. Daiwa Securities Group Inc. lifted its holdings in shares of Jacobs Solutions by 23.5% in the second quarter. Daiwa Securities Group Inc. now owns 30,950 shares of the company’s stock worth $4,324,000 after buying an additional 5,899 shares in the last quarter. Choreo LLC bought a new stake in Jacobs Solutions in the 2nd quarter valued at $298,000. Quest Partners LLC lifted its stake in Jacobs Solutions by 250.7% in the 2nd quarter. Quest Partners LLC now owns 1,189 shares of the company’s stock worth $166,000 after purchasing an additional 850 shares in the last quarter. Paralel Advisors LLC bought a new position in shares of Jacobs Solutions during the 2nd quarter valued at about $2,075,000. Finally, Hudson Edge Investment Partners Inc. grew its position in shares of Jacobs Solutions by 1.4% during the second quarter. Hudson Edge Investment Partners Inc. now owns 5,967 shares of the company’s stock valued at $834,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Trading Down 1.0 %

Shares of J opened at $143.14 on Wednesday. The company’s fifty day simple moving average is $145.12 and its 200-day simple moving average is $144.19. The company has a market cap of $17.92 billion, a P/E ratio of 27.63, a P/E/G ratio of 1.63 and a beta of 0.72. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31. Jacobs Solutions Inc. has a twelve month low of $120.71 and a twelve month high of $154.50.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.96. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period in the prior year, the company posted $1.82 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, analysts expect that Jacobs Solutions Inc. will post 7.97 EPS for the current year.

Jacobs Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, July 26th. Jacobs Solutions’s payout ratio is currently 22.39%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group boosted their target price on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. StockNews.com cut Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. Robert W. Baird lowered their target price on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price target on shares of Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Truist Financial reaffirmed a “hold” rating and set a $158.00 price target (up previously from $153.00) on shares of Jacobs Solutions in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $160.40.

Insider Buying and Selling at Jacobs Solutions

In related news, Director Christopher M.T. Thompson sold 1,898 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $150.85, for a total value of $286,313.30. Following the transaction, the director now owns 42,069 shares of the company’s stock, valued at approximately $6,346,108.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.94, for a total transaction of $979,580.00. Following the transaction, the insider now directly owns 534,138 shares in the company, valued at approximately $74,747,271.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher M.T. Thompson sold 1,898 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $150.85, for a total value of $286,313.30. Following the completion of the sale, the director now owns 42,069 shares of the company’s stock, valued at $6,346,108.65. The disclosure for this sale can be found here. Insiders have sold 21,516 shares of company stock valued at $3,132,273 in the last quarter. 1.00% of the stock is owned by insiders.

Jacobs Solutions Profile

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.