Cornerstone Wealth Management LLC Takes $498,000 Position in Jacobs Solutions Inc. (NYSE:J)

Cornerstone Wealth Management LLC bought a new position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,805 shares of the company's stock, valued at approximately $498,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Tlwm grew its position in shares of Jacobs Solutions by 1.2% during the 2nd quarter. Tlwm now owns 6,046 shares of the company's stock worth $845,000 after purchasing an additional 74 shares in the last quarter. Hudson Edge Investment Partners Inc. grew its position in shares of Jacobs Solutions by 1.4% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 5,967 shares of the company's stock worth $834,000 after purchasing an additional 82 shares in the last quarter. American National Bank grew 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 worth $906,000 after purchasing an additional 88 shares in the last quarter. Global Financial Private Client LLC grew its position in shares of Jacobs Solutions by 2.6% during the 2nd 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 in the last quarter. Finally, Gabelli Funds LLC boosted its position in shares of Jacobs Solutions by 6.9% during the 2nd quarter. Gabelli Funds LLC now owns 1,550 shares of the company's stock worth $217,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

Insider Activity

In related news, Director Christopher M.T. Thompson sold 1,898 shares of Jacobs Solutions stock in a transaction on Thursday, August 29th. The shares were 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 owns 42,069 shares of the company's stock, valued at $6,346,108.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Christopher M.T. Thompson sold 1,898 shares of Jacobs Solutions stock in a transaction on Thursday, August 29th. The shares were 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 owns 42,069 shares of the company's stock, valued at $6,346,108.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shelette M. Gustafson sold 4,167 shares of Jacobs Solutions stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $150.14, for a total transaction of $625,633.38. Following the completion of the sale, the executive vice president now directly owns 24,564 shares of the company's stock, valued at approximately $3,688,038.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,516 shares of company stock valued at $2,152,693. Insiders own 1.00% of the company's stock.

Jacobs Solutions Price Performance

J stock opened at $143.90 on Friday. The company has a fifty day moving average price of $144.64 and a 200-day moving average price of $142.99. The company has a market capitalization of $18.02 billion, a P/E ratio of 27.78, a PEG ratio of 1.39 and a beta of 0.72. Jacobs Solutions Inc. has a 52-week low of $100.59 and a 52-week high of $143.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.96. The firm 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 company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.82 earnings per share. As a group, equities analysts expect that Jacobs Solutions Inc. will post 7.95 EPS for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, October 25th. Jacobs Solutions's payout ratio is currently 22.39%.

Analysts Set New Price Targets

Several analysts recently issued reports on J shares. Robert W. Baird reduced their price target on shares of Jacobs Solutions from $163.00 to $160.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. UBS Group increased their price target on shares of Jacobs Solutions from $161.00 to $165.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Raymond James upgraded shares of Jacobs Solutions from a "market perform" rating to an "outperform" rating and set a $160.00 price target on the stock in a research report on Friday, October 4th. StockNews.com started coverage on shares of Jacobs Solutions in a research report on Wednesday, October 2nd. They set a "buy" rating on the stock. Finally, Royal Bank of Canada increased their price target on shares of Jacobs Solutions from $161.00 to $167.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Jacobs Solutions presently has an average rating of "Moderate Buy" and a consensus target price of $159.60.

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.