Montecito Bank & Trust Acquires New Holdings in Jacobs Solutions Inc. (NYSE:J)

Montecito Bank & Trust acquired a new stake in Jacobs Solutions Inc. (NYSE:J) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,646 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds also recently modified their holdings of the company. Two Point Capital Management Inc. boosted its stake in shares of Jacobs Solutions by 1.0% during the 3rd quarter. Two Point Capital Management Inc. now owns 95,151 shares of the company’s stock worth $12,455,000 after purchasing an additional 941 shares during the last quarter. Marks Group Wealth Management Inc boosted its stake in shares of Jacobs Solutions by 13.6% during the 3rd quarter. Marks Group Wealth Management Inc now owns 64,074 shares of the company’s stock worth $8,387,000 after purchasing an additional 7,695 shares during the last quarter. HMS Capital Management LLC boosted its stake in shares of Jacobs Solutions by 12.4% during the 3rd quarter. HMS Capital Management LLC now owns 5,772 shares of the company’s stock worth $756,000 after purchasing an additional 636 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of Jacobs Solutions by 0.3% during the 3rd quarter. Crestwood Advisors Group LLC now owns 80,071 shares of the company’s stock worth $10,481,000 after purchasing an additional 224 shares during the last quarter. Finally, Greenwood Capital Associates LLC acquired a new stake in shares of Jacobs Solutions in the third quarter worth approximately $2,330,000. 85.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Shelette M. Gustafson sold 4,167 shares of Jacobs Solutions stock in a transaction that occurred 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 sale, the executive vice president now owns 24,564 shares in the company, valued at $3,688,038.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Shelette M. Gustafson sold 4,167 shares of Jacobs Solutions stock in a transaction that occurred 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 sale, the executive vice president now owns 24,564 shares in the company, valued at $3,688,038.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William B. Allen, Jr. sold 1,451 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.51, for a total transaction of $212,586.01. Following the sale, the senior vice president now directly owns 26,699 shares of the company’s stock, valued at $3,911,670.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,516 shares of company stock worth $1,124,533 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Jacobs Solutions Trading Down 1.9 %

NYSE J opened at $144.85 on Friday. Jacobs Solutions Inc. has a one year low of $100.59 and a one year high of $148.89. The company’s 50 day moving average price is $143.17 and its 200 day moving average price is $142.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $18.00 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 1.41 and a beta of 0.71.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.96. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.39 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 earnings per share. On average, sell-side analysts predict that Jacobs Solutions Inc. will post 7.95 EPS for the current year.

Jacobs Solutions Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.80%. Jacobs Solutions’s dividend payout ratio is currently 22.92%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on J. Royal Bank of Canada raised their target price 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. Raymond James raised shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 target price on the stock in a research report on Friday, October 4th. Robert W. Baird decreased their target price 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. Truist Financial decreased their target price on shares of Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, Citigroup raised their target price on shares of Jacobs Solutions from $138.60 to $166.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.30.

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.