Massachusetts Financial Services Co. MA Reduces Holdings in Jacobs Solutions Inc. (NYSE:J)

Massachusetts Financial Services Co. MA lowered its position in shares of Jacobs Solutions Inc. (NYSE:J) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,652,121 shares of the company’s stock after selling 32,265 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.33% of Jacobs Solutions worth $216,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in shares of Jacobs Solutions in the 2nd quarter valued at approximately $26,000. Bruce G. Allen Investments LLC increased its holdings in Jacobs Solutions by 427.5% in 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 last quarter. First Horizon Advisors Inc. increased 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 valued at $32,000 after purchasing an additional 74 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Jacobs Solutions in the third quarter valued at approximately $42,000. Finally, LRI Investments LLC acquired a new position in Jacobs Solutions during the first quarter worth $48,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Trading Up 1.4 %

Shares of NYSE:J opened at $137.38 on Friday. Jacobs Solutions Inc. has a 52 week low of $101.64 and a 52 week high of $150.54. The company’s 50 day moving average is $142.11 and its two-hundred day moving average is $142.29. The company has a market cap of $17.07 billion, a PE ratio of 21.70, a P/E/G ratio of 2.04 and a beta of 0.71. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.30.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, November 19th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.71). The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $4.50 billion. Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.90 EPS. Equities analysts predict that Jacobs Solutions Inc. will post 6 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

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

Insider Activity at Jacobs Solutions

In other Jacobs Solutions news, EVP Shelette M. Gustafson sold 4,167 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $150.14, for a total value of $625,633.38. Following the completion of the transaction, the executive vice president now owns 24,564 shares in the company, valued at $3,688,038.96. This represents a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christopher M.T. Thompson sold 1,898 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $150.85, for a total value of $286,313.30. Following the transaction, the director now directly owns 42,069 shares in the company, valued at approximately $6,346,108.65. The trade was a 4.32 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Jacobs Solutions from $147.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group boosted their price target on shares of Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Citigroup reduced their price target on shares of Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank of Canada dropped their price objective on shares of Jacobs Solutions from $167.00 to $152.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.