Power Wealth Management LLC Makes New Investment in Jacobs Solutions Inc. (NYSE:J)

Power Wealth Management LLC acquired a new position in Jacobs Solutions Inc. (NYSE:J) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 4,579 shares of the company’s stock, valued at approximately $594,000.

Several other hedge funds have also recently made changes to their positions in the business. Exchange Traded Concepts LLC bought a new stake in Jacobs Solutions during the third quarter worth about $342,000. Commonwealth Equity Services LLC grew its stake in shares of Jacobs Solutions by 2.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 60,623 shares of the company’s stock worth $8,275,000 after buying an additional 1,722 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Jacobs Solutions by 29.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 20,320 shares of the company’s stock worth $2,774,000 after buying an additional 4,565 shares during the last quarter. Xponance Inc. increased its position in Jacobs Solutions by 1.8% during the 3rd quarter. Xponance Inc. now owns 16,771 shares of the company’s stock valued at $2,289,000 after buying an additional 290 shares in the last quarter. Finally, Pinnacle Associates Ltd. purchased a new position in Jacobs Solutions during the third quarter valued at $204,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Up 2.2 %

Shares of J traded up $3.17 during trading hours on Friday, hitting $148.10. The company had a trading volume of 668,452 shares, compared to its average volume of 449,142. Jacobs Solutions Inc. has a one year low of $109.00 and a one year high of $154.50. The company’s fifty day moving average price is $147.41 and its two-hundred day moving average price is $138.12. The company has a market capitalization of $18.61 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 1.57 and a beta of 0.74. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42.

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

Jacobs Solutions Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on J. Argus raised their price target 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. Citigroup upped their price target on Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Royal Bank of Canada boosted their target price on Jacobs Solutions from $151.00 to $161.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Bank of America upped their target price on shares of Jacobs Solutions from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, KeyCorp assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.25.

Insiders Place Their Bets

In related news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the sale, the insider now owns 555,138 shares in the company, valued at $85,047,141.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Kevin C. Berryman sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $145.31, for a total value of $217,965.00. Following the completion of the sale, the chief financial officer now owns 231,604 shares of the company’s stock, valued at approximately $33,654,377.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the transaction, the insider now owns 555,138 shares of the company’s stock, valued at $85,047,141.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,338 shares of company stock worth $3,618,695. Corporate insiders own 1.00% of the company’s stock.

About Jacobs Solutions

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.