Principal Financial Group Inc. Boosts Stock Position in Jacobs Solutions Inc. (NYSE:J)

Principal Financial Group Inc. increased its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,574 shares of the company's stock after buying an additional 5,959 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Jacobs Solutions worth $19,056,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in J. EdgeRock Capital LLC bought a new position in Jacobs Solutions during the 2nd quarter valued at $26,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Jacobs Solutions by 427.5% in 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. LRI Investments LLC purchased a new stake in shares of Jacobs Solutions in the first quarter valued at $48,000. GAMMA Investing LLC lifted its holdings in shares of Jacobs Solutions by 55.8% in the third quarter. GAMMA Investing LLC now owns 405 shares of the company's stock valued at $53,000 after purchasing an additional 145 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in shares of Jacobs Solutions in the second quarter valued at $66,000. 85.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Shelette M. Gustafson sold 4,167 shares of the company's stock in a transaction on Thursday, August 29th. The stock was 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 owns 24,564 shares in the company, valued at approximately $3,688,038.96. This represents a 14.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher M.T. Thompson sold 1,898 shares of the company's 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 sale, the director now owns 42,069 shares of the company's stock, valued at $6,346,108.65. This trade represents 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.

Analysts Set New Price Targets

A number of analysts have recently issued reports on J shares. Citigroup increased their target price on Jacobs Solutions from $138.60 to $166.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Raymond James upgraded Jacobs Solutions from a "market perform" rating to an "outperform" rating and set a $160.00 price objective for the company in a report on Friday, October 4th. Truist Financial cut their price objective on Jacobs Solutions from $158.00 to $139.00 and set a "hold" rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada increased their price objective on Jacobs Solutions from $161.00 to $167.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. Finally, Robert W. Baird cut their price objective on Jacobs Solutions from $163.00 to $160.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Jacobs Solutions currently has a consensus rating of "Moderate Buy" and an average price target of $159.30.

Jacobs Solutions Trading Down 0.4 %

Shares of Jacobs Solutions stock traded down $0.60 during midday trading on Friday, reaching $140.01. The company had a trading volume of 1,030,562 shares, compared to its average volume of 800,049. The firm has a market cap of $17.40 billion, a PE ratio of 27.84, a P/E/G ratio of 1.57 and a beta of 0.71. The stock has a fifty day moving average price of $142.88 and a 200 day moving average price of $142.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14. Jacobs Solutions Inc. has a fifty-two week low of $100.59 and a fifty-two week high of $150.54.

Jacobs Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a $0.29 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 0.83%. Jacobs Solutions's payout ratio is currently 22.92%.

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.