Primecap Management Co. CA Sells 127,525 Shares of Jacobs Solutions Inc. (NYSE:J)

Primecap Management Co. CA decreased its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,097,102 shares of the company’s stock after selling 127,525 shares during the quarter. Primecap Management Co. CA owned about 4.85% of Jacobs Solutions worth $791,404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Pacific Financial bought a new position in Jacobs Solutions during the fourth quarter valued at $27,000. GAMMA Investing LLC bought a new position in Jacobs Solutions during the fourth quarter valued at $27,000. Union Savings Bank lifted its position in Jacobs Solutions by 78.1% during the fourth quarter. Union Savings Bank now owns 285 shares of the company’s stock valued at $37,000 after purchasing an additional 125 shares during the last quarter. Northwest Financial Advisors bought a new stake in shares of Jacobs Solutions in the 4th quarter worth about $39,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Jacobs Solutions in the 4th quarter worth about $59,000. Institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Up 1.4 %

Shares of NYSE:J traded up $1.98 during trading on Friday, reaching $140.50. The stock had a trading volume of 524,138 shares, compared to its average volume of 649,297. Jacobs Solutions Inc. has a one year low of $109.00 and a one year high of $154.50. The company has a market capitalization of $17.59 billion, a P/E ratio of 27.12, a PEG ratio of 1.59 and a beta of 0.74. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $144.84 and its 200 day simple moving average is $138.75.

Jacobs Solutions (NYSE:J) last released its quarterly earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.07. Jacobs Solutions had a net margin of 3.83% and a return on equity of 14.59%. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the business earned $1.81 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Jacobs Solutions Inc. will post 7.98 EPS for the current fiscal year.

Jacobs Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 24th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 23rd. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.39%.

Insider Buying and Selling

In related news, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $143.86, for a total value of $1,007,020.00. Following the completion of the sale, the insider now directly owns 548,138 shares in the company, valued at approximately $78,855,132.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Jacobs Solutions news, CFO Kevin C. Berryman sold 1,500 shares of Jacobs Solutions stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction of $229,800.00. Following the completion of the sale, the chief financial officer now directly owns 233,104 shares in the company, valued at approximately $35,711,532.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the sale, the insider now owns 548,138 shares of the company’s stock, valued at $78,855,132.68. The disclosure for this sale can be found here. Insiders sold 22,486 shares of company stock worth $3,344,599 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. William Blair lowered shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. Citigroup raised their price target on shares of Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Truist Financial reduced their price target on shares of Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Royal Bank of Canada raised their price target on shares of Jacobs Solutions from $151.00 to $161.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Argus raised their target price on shares of Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.82.

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.