Montecito Bank & Trust Invests $215,000 in Jacobs Solutions Inc. (NYSE:J)

Montecito Bank & Trust purchased a new position in shares of Jacobs Solutions Inc. (NYSE:J) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 1,646 shares of the company’s stock, valued at approximately $215,000.

A number of other hedge funds have also made changes to their positions in the stock. EdgeRock Capital LLC acquired a new position in Jacobs Solutions in the second quarter worth $26,000. Bruce G. Allen Investments LLC boosted its holdings in Jacobs Solutions by 427.5% in the second quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares during the period. Central Pacific Bank Trust Division acquired a new position in Jacobs Solutions in the first quarter worth $48,000. LRI Investments LLC acquired a new position in Jacobs Solutions in the first quarter worth $48,000. Finally, GAMMA Investing LLC boosted its holdings in Jacobs Solutions by 55.8% in the third quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock worth $53,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $144.85 on Friday. Jacobs Solutions Inc. has a fifty-two week low of $100.59 and a fifty-two week high of $148.89. The firm’s 50-day simple moving average is $143.17 and its 200 day simple moving average is $142.59. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. The stock has a market cap of $18.00 billion, a P/E ratio of 28.63, a P/E/G ratio of 1.41 and a beta of 0.71.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, hitting the consensus estimate of $1.96. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the business earned $1.82 earnings per share. Jacobs Solutions’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts expect that Jacobs Solutions Inc. will post 7.95 EPS for the current year.

Jacobs Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, October 25th. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.92%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Jacobs Solutions from $138.60 to $166.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. UBS Group boosted their price target on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Raymond James raised shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price target for the company in a report on Friday, October 4th. Finally, Royal Bank of Canada boosted their price target on shares of Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.30.

Insiders Place Their Bets

In other Jacobs Solutions news, Director Christopher M.T. Thompson sold 1,898 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $150.85, for a total value of $286,313.30. Following the sale, the director now directly owns 42,069 shares in the company, valued at approximately $6,346,108.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Jacobs Solutions news, Director Christopher M.T. Thompson sold 1,898 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $150.85, for a total transaction of $286,313.30. Following the sale, the director now owns 42,069 shares in the company, valued at approximately $6,346,108.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William B. Allen, Jr. sold 1,451 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.51, for a total value of $212,586.01. Following the sale, the senior vice president now owns 26,699 shares in the company, valued at approximately $3,911,670.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,516 shares of company stock worth $1,124,533. 1.00% of the stock is owned by corporate insiders.

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.