Pinnacle Financial Partners Inc Boosts Stock Position in Jacobs Solutions Inc. (NYSE:J)

Pinnacle Financial Partners Inc raised its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 15.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,821 shares of the company’s stock after buying an additional 373 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Jacobs Solutions were worth $369,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Empowered Funds LLC increased its position in shares of Jacobs Solutions by 23.5% during the first quarter. Empowered Funds LLC now owns 2,925 shares of the company’s stock valued at $450,000 after acquiring an additional 557 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Jacobs Solutions by 5.4% in the first quarter. Avantax Advisory Services Inc. now owns 6,189 shares of the company’s stock worth $951,000 after purchasing an additional 315 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Jacobs Solutions by 8.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 139,469 shares of the company’s stock valued at $21,441,000 after purchasing an additional 10,542 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Jacobs Solutions by 21.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 147,278 shares of the company’s stock valued at $22,641,000 after buying an additional 26,342 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in Jacobs Solutions by 30.2% in the 1st quarter. Kingsview Wealth Management LLC now owns 3,110 shares of the company’s stock worth $478,000 after buying an additional 721 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Analyst Upgrades and Downgrades

J has been the topic of several research analyst reports. StockNews.com cut shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Raymond James upgraded 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 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 for the company in a research note on Wednesday, August 7th. Citigroup raised their price target on Jacobs Solutions from $138.60 to $166.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted 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. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $159.30.

Jacobs Solutions Price Performance

Shares of NYSE:J opened at $140.61 on Friday. The company has a market capitalization of $17.47 billion, a P/E ratio of 27.79, a P/E/G ratio of 1.55 and a beta of 0.71. Jacobs Solutions Inc. has a 1-year low of $100.59 and a 1-year high of $150.54. The firm’s 50 day simple moving average is $142.95 and its two-hundred day simple moving average is $142.68. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, October 25th. Jacobs Solutions’s dividend payout ratio is currently 22.92%.

Insiders Place Their Bets

In other Jacobs Solutions news, EVP Shelette M. Gustafson sold 4,167 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 24,564 shares of the company’s stock, valued at $3,688,038.96. This represents a 14.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher M.T. Thompson sold 1,898 shares of Jacobs Solutions stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $150.85, for a total value of $286,313.30. Following the completion of the sale, the director now directly owns 42,069 shares in the company, valued at $6,346,108.65. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

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.