Chevy Chase Trust Holdings LLC Trims Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 1.8% during the third quarter, Holdings Channel reports. The institutional investor owned 67,134 shares of the company’s stock after selling 1,226 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Jacobs Solutions were worth $8,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new position in Jacobs Solutions during the second quarter valued at approximately $26,000. Bruce G. Allen Investments LLC raised its position in shares of Jacobs Solutions by 427.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock valued at $29,000 after purchasing an additional 171 shares during the period. First Horizon Advisors Inc. boosted its holdings in Jacobs Solutions by 44.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after buying an additional 74 shares during the period. Capital Performance Advisors LLP purchased a new stake in Jacobs Solutions in the 3rd quarter worth $42,000. Finally, True Wealth Design LLC bought a new stake in Jacobs Solutions during the third quarter valued at about $44,000. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Stock Down 0.4 %

Shares of NYSE:J opened at $137.74 on Friday. The company has a market cap of $17.08 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.08 and a beta of 0.70. Jacobs Solutions Inc. has a 12 month low of $104.90 and a 12 month high of $150.54. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $140.44 and a 200 day moving average price of $142.35.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, November 19th. The company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.71). The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $4.50 billion. Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. Jacobs Solutions’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 earnings per share. As a group, equities research analysts predict that Jacobs Solutions Inc. will post 6.06 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Friday, October 25th. Jacobs Solutions’s dividend payout ratio (DPR) is 18.33%.

Wall Street Analysts Forecast Growth

J has been the subject of a number of recent analyst reports. Citigroup dropped their price objective on Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, November 20th. Robert W. Baird upped their price target on Jacobs Solutions from $147.00 to $149.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. UBS Group lifted their price objective on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. StockNews.com started coverage on shares of Jacobs Solutions in a research report on Wednesday. They set a “hold” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $152.00 price target on shares of Jacobs Solutions in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.50.

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.