Panagora Asset Management Inc. Has $18.41 Million Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Panagora Asset Management Inc. boosted its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 20.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,748 shares of the company's stock after buying an additional 22,316 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.11% of Jacobs Solutions worth $18,407,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. EdgeRock Capital LLC purchased a new stake in Jacobs Solutions during the second quarter valued at $26,000. GAMMA Investing LLC purchased a new stake in Jacobs Solutions during the fourth quarter valued at $27,000. Bruce G. Allen Investments LLC raised its stake in Jacobs Solutions by 427.5% during the second 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 in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Jacobs Solutions during the fourth quarter valued at $30,000. Finally, Union Savings Bank raised its stake in Jacobs Solutions by 78.1% during the fourth quarter. Union Savings Bank now owns 285 shares of the company's stock valued at $37,000 after purchasing an additional 125 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. Robert W. Baird cut their price target on shares of Jacobs Solutions from $163.00 to $160.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. StockNews.com cut shares of Jacobs Solutions from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 15th. William Blair cut shares of Jacobs Solutions from an "outperform" rating to a "market perform" rating in a report on Wednesday, May 8th. Finally, Truist Financial restated a "hold" rating and issued a $158.00 price target (up from $153.00) on shares of Jacobs Solutions in a report on Wednesday, August 7th. Six equities 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, Jacobs Solutions has an average rating of "Moderate Buy" and an average target price of $160.40.

Insider Buying and Selling

In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the firm's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.94, for a total value of $979,580.00. Following the completion of the sale, the insider now owns 534,138 shares of the company's stock, valued at $74,747,271.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Steven J. Demetriou sold 7,000 shares of the firm's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.94, for a total value of $979,580.00. Following the completion of the transaction, the insider now owns 534,138 shares in the company, valued at $74,747,271.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP William B. Allen, Jr. sold 1,451 shares of Jacobs Solutions 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 of the company's stock, valued at approximately $3,911,670.49. The disclosure for this sale can be found here. Insiders sold a total of 22,451 shares of company stock valued at $3,196,336 over the last three months. 1.00% of the stock is currently owned by company insiders.

Jacobs Solutions Trading Up 0.6 %

NYSE J traded up $0.88 during trading on Friday, hitting $150.88. The stock had a trading volume of 820,376 shares, compared to its average volume of 662,556. The company has a market capitalization of $18.89 billion, a PE ratio of 29.13, a PEG ratio of 1.67 and a beta of 0.70. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average price of $144.08 and a 200 day moving average price of $144.19. Jacobs Solutions Inc. has a twelve month low of $120.71 and a twelve month high of $154.50.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, hitting analysts' consensus estimates of $1.96. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.39 billion. Jacobs Solutions had a return on equity of 14.59% and a net margin of 3.83%. The business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. As a group, equities research analysts forecast that Jacobs Solutions Inc. will post 7.98 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, July 26th. Jacobs Solutions's dividend payout ratio is presently 22.39%.

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.