Allspring Global Investments Holdings LLC Sells 471,729 Shares of Jacobs Solutions Inc. (NYSE:J)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 16.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,431,928 shares of the company’s stock after selling 471,729 shares during the period. Allspring Global Investments Holdings LLC owned about 1.94% of Jacobs Solutions worth $318,339,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Tlwm raised its stake in Jacobs Solutions by 1.2% in the 2nd quarter. Tlwm now owns 6,046 shares of the company’s stock valued at $845,000 after acquiring an additional 74 shares during the period. Hudson Edge Investment Partners Inc. raised its stake in Jacobs Solutions by 1.4% in the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 5,967 shares of the company’s stock valued at $834,000 after acquiring an additional 82 shares during the period. American National Bank raised its stake in Jacobs Solutions by 1.4% in the 2nd quarter. American National Bank now owns 6,488 shares of the company’s stock valued at $906,000 after acquiring an additional 88 shares during the period. Global Financial Private Client LLC raised its stake in Jacobs Solutions by 2.6% in the 2nd quarter. Global Financial Private Client LLC now owns 3,944 shares of the company’s stock valued at $551,000 after acquiring an additional 100 shares during the period. Finally, Gabelli Funds LLC raised its stake in Jacobs Solutions by 6.9% in the 2nd quarter. Gabelli Funds LLC now owns 1,550 shares of the company’s stock valued at $217,000 after acquiring an additional 100 shares during the period. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Price Performance

J traded up $0.80 during midday trading on Friday, hitting $143.90. The stock had a trading volume of 654,565 shares, compared to its average volume of 813,529. The company has a market cap of $18.02 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 1.39 and a beta of 0.72. The business has a fifty day moving average of $144.64 and a 200 day moving average of $142.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. Jacobs Solutions Inc. has a 1 year low of $100.59 and a 1 year high of $143.96.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, August 6th. The company reported $1.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.96. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.39 billion. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. Jacobs Solutions’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 earnings per share. As a group, equities analysts forecast that Jacobs Solutions Inc. will post 7.95 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, October 25th. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.39%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on J. Truist Financial lowered their price objective on Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their price objective on Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Robert W. Baird decreased their price target on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. StockNews.com initiated coverage on Jacobs Solutions in a research report on Wednesday, October 2nd. They set a “buy” rating on the stock. Finally, Raymond James upgraded Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $159.60.

Insider Activity

In other news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.88, for a total transaction of $1,028,160.00. Following the completion of the sale, the insider now owns 527,138 shares of the company’s stock, valued at approximately $77,426,029.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.88, for a total transaction of $1,028,160.00. Following the completion of the transaction, the insider now owns 527,138 shares in the company, valued at $77,426,029.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Shelette M. Gustafson sold 4,167 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $150.14, for a total value of $625,633.38. Following the transaction, the executive vice president now owns 24,564 shares of the company’s stock, valued at approximately $3,688,038.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,516 shares of company stock valued at $2,152,693. 1.00% of the stock is currently owned by company insiders.

Jacobs Solutions Company 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.