EverSource Wealth Advisors LLC Increases Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

EverSource Wealth Advisors LLC raised its position in shares of Jacobs Solutions Inc. (NYSE:J) by 1,794.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,240 shares of the company’s stock after buying an additional 3,069 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Jacobs Solutions were worth $465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its position in Jacobs Solutions by 7,306.2% during the first quarter. Westwood Holdings Group Inc. now owns 138,051 shares of the company’s stock valued at $21,223,000 after buying an additional 136,187 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Jacobs Solutions by 1.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 22,850 shares of the company’s stock valued at $3,505,000 after buying an additional 359 shares during the period. Boston Partners lifted its position in Jacobs Solutions by 27.9% during the first quarter. Boston Partners now owns 3,697,086 shares of the company’s stock valued at $567,436,000 after buying an additional 805,657 shares during the period. Cetera Advisors LLC lifted its position in Jacobs Solutions by 168.2% during the first quarter. Cetera Advisors LLC now owns 6,436 shares of the company’s stock valued at $989,000 after buying an additional 4,036 shares during the period. Finally, Cetera Investment Advisers lifted its position in Jacobs Solutions by 103.0% during the first quarter. Cetera Investment Advisers now owns 18,957 shares of the company’s stock valued at $2,914,000 after buying an additional 9,617 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on J shares. Robert W. Baird lowered their price objective on Jacobs Solutions from $168.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. William Blair downgraded Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. StockNews.com downgraded Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. Truist Financial reduced their price target on Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Finally, Citigroup raised 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. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.82.

Jacobs Solutions Stock Performance

NYSE:J traded down $2.52 during mid-day trading on Friday, reaching $142.24. The company’s stock had a trading volume of 595,391 shares, compared to its average volume of 601,598. Jacobs Solutions Inc. has a 12-month low of $120.71 and a 12-month high of $154.50. The stock has a market cap of $17.81 billion, a P/E ratio of 27.46, a PEG ratio of 1.67 and a beta of 0.70. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average price is $141.45 and its two-hundred day moving average price is $142.96.

Jacobs Solutions (NYSE:J) last released its quarterly earnings results on Tuesday, May 7th. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.84 by $0.07. Jacobs Solutions had a net margin of 3.83% and a return on equity of 14.59%. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that Jacobs Solutions Inc. will post 7.98 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, July 26th. Jacobs Solutions’s payout ratio is currently 22.39%.

Insider Activity

In related news, insider Steven J. Demetriou sold 7,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 534,138 shares in the company, valued at approximately $74,747,271.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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.