Jacobs Solutions Inc. (NYSE:J) Shares Sold by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co decreased its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 52.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,300 shares of the company's stock after selling 60,500 shares during the period. Varma Mutual Pension Insurance Co's holdings in Jacobs Solutions were worth $7,726,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of J. Victory Capital Management Inc. increased its holdings in shares of Jacobs Solutions by 14.5% in the fourth quarter. Victory Capital Management Inc. now owns 67,905 shares of the company's stock worth $8,814,000 after acquiring an additional 8,611 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Jacobs Solutions during the 4th quarter worth $223,000. National Bank of Canada FI raised its stake in Jacobs Solutions by 0.4% in the fourth quarter. National Bank of Canada FI now owns 27,539 shares of the company's stock valued at $3,525,000 after purchasing an additional 120 shares in the last quarter. Private Advisor Group LLC lifted its stake in Jacobs Solutions by 7.9% during the fourth quarter. Private Advisor Group LLC now owns 11,488 shares of the company's stock worth $1,491,000 after purchasing an additional 838 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Jacobs Solutions by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 718,882 shares of the company's stock valued at $93,311,000 after buying an additional 10,567 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Price Performance

Shares of Jacobs Solutions stock traded down $1.40 on Tuesday, hitting $143.14. 417,438 shares of the company traded hands, compared to its average volume of 664,371. Jacobs Solutions Inc. has a 52 week low of $120.71 and a 52 week high of $154.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. The business has a 50-day simple moving average of $145.02 and a 200 day simple moving average of $144.21. The stock has a market capitalization of $17.92 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.72.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 net margin of 3.72% and a return on equity of 14.76%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 earnings per share. Research analysts expect that Jacobs Solutions Inc. will post 7.97 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.81%. Jacobs Solutions's dividend payout ratio is currently 22.39%.

Insider Buying and Selling

In related news, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction dated 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 approximately $74,747,271.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Christopher M.T. Thompson sold 1,898 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $150.85, for a total transaction of $286,313.30. Following the completion of the transaction, the director now directly owns 42,069 shares in the company, valued at approximately $6,346,108.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction on Monday, July 1st. The shares were 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 directly owns 534,138 shares of the company's stock, valued at $74,747,271.72. The disclosure for this sale can be found here. Insiders sold 21,516 shares of company stock worth $3,132,273 in the last 90 days. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird lowered their target price on Jacobs Solutions from $163.00 to $160.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. 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 report on Wednesday, August 14th. Royal Bank of Canada boosted their target price on Jacobs Solutions from $161.00 to $167.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. StockNews.com downgraded Jacobs Solutions from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 15th. Finally, Truist Financial reaffirmed a "hold" rating and set a $158.00 price objective (up previously from $153.00) on shares of Jacobs Solutions in a research note on Wednesday, August 7th. Six investment 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.40.

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.