Sumitomo Mitsui Trust Holdings Inc. Sells 7,844 Shares of Jacobs Solutions Inc. (NYSE:J)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of Jacobs Solutions Inc. (NYSE:J) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 367,697 shares of the company’s stock after selling 7,844 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.29% of Jacobs Solutions worth $47,727,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new position in Jacobs Solutions in the 4th quarter valued at about $986,000. Crestwood Advisors Group LLC increased its stake in Jacobs Solutions by 0.8% in the fourth quarter. Crestwood Advisors Group LLC now owns 79,458 shares of the company’s stock valued at $10,314,000 after acquiring an additional 641 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in Jacobs Solutions in the fourth quarter valued at approximately $59,000. Perigon Wealth Management LLC boosted its position in Jacobs Solutions by 8.0% in the fourth quarter. Perigon Wealth Management LLC now owns 2,238 shares of the company’s stock valued at $290,000 after buying an additional 166 shares in the last quarter. Finally, Kennedy Investment Group acquired a new stake in Jacobs Solutions in the fourth quarter valued at approximately $848,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Trading Up 0.2 %

NYSE:J opened at $143.83 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a 50-day moving average of $147.62 and a 200-day moving average of $137.61. The company has a market cap of $18.07 billion, a PE ratio of 25.68, a PEG ratio of 1.51 and a beta of 0.73. Jacobs Solutions Inc. has a one year low of $109.00 and a one year high of $154.50.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, February 6th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.56 by $0.46. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.02 billion. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.67 earnings per share. As a group, equities research analysts expect that Jacobs Solutions Inc. will post 8.07 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a yield of 0.81%. Jacobs Solutions’s payout ratio is 20.71%.

Analyst Upgrades and Downgrades

J has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. KeyCorp assumed coverage on shares of Jacobs Solutions in a report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Royal Bank of Canada boosted their target price on shares of Jacobs Solutions from $151.00 to $161.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Argus boosted their target price on shares of Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Finally, Truist Financial assumed coverage on shares of Jacobs Solutions in a report on Thursday, March 14th. They issued a “hold” rating and a $154.00 target price on the stock. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $154.08.

Insider Buying and Selling

In related news, CFO Kevin C. Berryman sold 1,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction of $229,800.00. Following the transaction, the chief financial officer now directly owns 233,104 shares in the company, valued at $35,711,532.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Jacobs Solutions news, CFO Kevin C. Berryman sold 1,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $153.20, for a total value of $229,800.00. Following the transaction, the chief financial officer now directly owns 233,104 shares in the company, valued at $35,711,532.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick Hill sold 5,486 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $149.00, for a total transaction of $817,414.00. Following the sale, the executive vice president now owns 57,233 shares in the company, valued at $8,527,717. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,838 shares of company stock worth $2,393,710. 1.00% of the stock is owned by insiders.

About Jacobs Solutions

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.