Forte Capital LLC ADV Grows Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Forte Capital LLC ADV grew its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,321 shares of the company’s stock after acquiring an additional 368 shares during the period. Jacobs Solutions accounts for approximately 1.2% of Forte Capital LLC ADV’s portfolio, making the stock its 24th largest holding. Forte Capital LLC ADV owned 0.06% of Jacobs Solutions worth $9,128,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in J. Allspring Global Investments Holdings LLC increased its holdings in Jacobs Solutions by 0.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,446,374 shares of the company’s stock worth $447,339,000 after acquiring an additional 14,821 shares during the period. Ninety One UK Ltd raised its position in shares of Jacobs Solutions by 5.9% in the fourth quarter. Ninety One UK Ltd now owns 2,044,031 shares of the company’s stock worth $265,315,000 after buying an additional 114,076 shares in the last quarter. Third Point LLC boosted its stake in Jacobs Solutions by 32.8% during the third quarter. Third Point LLC now owns 1,800,000 shares of the company’s stock valued at $245,700,000 after buying an additional 445,018 shares during the period. Invesco Ltd. grew its position in Jacobs Solutions by 0.4% during the third quarter. Invesco Ltd. now owns 1,714,552 shares of the company’s stock worth $234,036,000 after buying an additional 7,548 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Jacobs Solutions by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 869,567 shares of the company’s stock worth $118,696,000 after acquiring an additional 10,427 shares during the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Trading Up 2.2 %

Jacobs Solutions stock traded up $3.17 during mid-day trading on Friday, reaching $148.10. 668,452 shares of the company traded hands, compared to its average volume of 449,142. Jacobs Solutions Inc. has a 52-week low of $109.00 and a 52-week high of $154.50. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 1.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.37 and a quick ratio of 1.37. The firm’s 50 day moving average price is $147.41 and its 200 day moving average price is $138.12.

Jacobs Solutions (NYSE:J) last announced its earnings results on Tuesday, February 6th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.46. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the business posted $1.67 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts anticipate that Jacobs Solutions Inc. will post 8.07 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 24th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, May 23rd. Jacobs Solutions’s payout ratio is 20.71%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on J. Truist Financial began coverage on shares of Jacobs Solutions in a research report on Thursday, March 14th. They set a “hold” rating and a $154.00 target price for the company. Citigroup lifted their target price on shares of Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Bank of America lifted their target price on shares of Jacobs Solutions from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada lifted their target price on shares of Jacobs Solutions from $151.00 to $161.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, Argus lifted their target price on shares of Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.25.

Insider Buying and Selling

In related news, EVP Shelette M. Gustafson sold 1,852 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $148.00, for a total value of $274,096.00. Following the transaction, the executive vice president now owns 28,791 shares in the company, valued at approximately $4,261,068. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the sale, the insider now owns 548,138 shares of the company’s stock, valued at approximately $78,855,132.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Shelette M. Gustafson sold 1,852 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $148.00, for a total transaction of $274,096.00. Following the sale, the executive vice president now directly owns 28,791 shares in the company, valued at approximately $4,261,068. The disclosure for this sale can be found here. Insiders have sold a total of 24,338 shares of company stock worth $3,618,695 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

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.