Primecap Management Co. CA Sells 364,030 Shares of Jacobs Solutions Inc. (NYSE:J)

Primecap Management Co. CA decreased its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,582,222 shares of the company's stock after selling 364,030 shares during the period. Primecap Management Co. CA owned 4.46% of Jacobs Solutions worth $779,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tlwm lifted its holdings in Jacobs Solutions by 1.2% in the second quarter. Tlwm now owns 6,046 shares of the company's stock valued at $845,000 after buying an additional 74 shares during the period. Hudson Edge Investment Partners Inc. lifted its stake in shares of Jacobs Solutions by 1.4% in the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 5,967 shares of the company's stock valued at $834,000 after purchasing an additional 82 shares during the period. American National Bank boosted its position in shares of Jacobs Solutions by 1.4% during the 2nd quarter. American National Bank now owns 6,488 shares of the company's stock valued at $906,000 after purchasing an additional 88 shares in the last quarter. Global Financial Private Client LLC grew its stake in Jacobs Solutions by 2.6% during the second quarter. Global Financial Private Client LLC now owns 3,944 shares of the company's stock worth $551,000 after purchasing an additional 100 shares during the period. Finally, Advisors Management Group Inc. ADV increased its holdings in Jacobs Solutions by 1.5% in the second quarter. Advisors Management Group Inc. ADV now owns 7,053 shares of the company's stock worth $985,000 after purchasing an additional 101 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Stock Up 0.1 %

Shares of NYSE:J traded up $0.15 during mid-day trading on Tuesday, hitting $144.94. 621,640 shares of the company traded hands, compared to its average volume of 662,190. The stock has a market cap of $18.15 billion, a P/E ratio of 27.95, a P/E/G ratio of 1.63 and a beta of 0.72. The stock has a 50-day moving average price of $145.56 and a two-hundred day moving average price of $144.08. Jacobs Solutions Inc. has a 12-month low of $120.71 and a 12-month high of $154.50. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $1.96 earnings per share (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 during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the business posted $1.82 EPS. The business's revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Jacobs Solutions Inc. will post 7.97 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, July 26th. Jacobs Solutions's dividend payout ratio is presently 22.39%.

Analysts Set New Price Targets

J has been the topic of a number of research analyst reports. Robert W. Baird cut their price target on Jacobs Solutions from $163.00 to $160.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. UBS Group raised their price target on shares of Jacobs Solutions from $161.00 to $165.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. StockNews.com downgraded shares of Jacobs Solutions from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 15th. Truist Financial reissued a "hold" rating and set a $158.00 price objective (up previously from $153.00) on shares of Jacobs Solutions in a research report on Wednesday, August 7th. Finally, 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 report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Jacobs Solutions currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.67.

Insider Activity at Jacobs Solutions

In related 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 transaction, the director now directly owns 42,069 shares of the company's stock, valued at approximately $6,346,108.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Jacobs Solutions news, EVP Shelette M. Gustafson sold 4,167 shares of the business's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $150.14, for a total value of $625,633.38. Following the sale, the executive vice president now directly owns 24,564 shares in the company, valued at $3,688,038.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $286,313.30. Following the transaction, the director now owns 42,069 shares of the company's stock, valued at approximately $6,346,108.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,516 shares of company stock valued at $3,132,273. 1.00% of the stock is owned by 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.