ING Groep NV Purchases New Position in Jacobs Solutions Inc. (NYSE:J)

ING Groep NV bought a new stake in Jacobs Solutions Inc. (NYSE:J) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,746 shares of the company’s stock, valued at approximately $2,192,000.

Other hedge funds also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new stake in shares of Jacobs Solutions during the second quarter worth about $26,000. Bruce G. Allen Investments LLC boosted 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 buying an additional 171 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Jacobs Solutions during the third quarter worth $42,000. LRI Investments LLC acquired a new stake in shares of Jacobs Solutions during the first quarter worth $48,000. Finally, GAMMA Investing LLC lifted its position in Jacobs Solutions by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock valued at $53,000 after acquiring an additional 145 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on J shares. UBS Group increased their target price on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Truist Financial cut their target price on Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Citigroup increased their target price on shares of Jacobs Solutions from $138.60 to $166.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird lowered their price target on shares of Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $159.30.

Insider Activity

In other news, Director Christopher M.T. Thompson sold 1,898 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $150.85, for a total value of $286,313.30. Following the sale, the director now directly owns 42,069 shares in the company, valued at approximately $6,346,108.65. This trade represents a 4.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Shelette M. Gustafson sold 4,167 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 24,564 shares of the company’s stock, valued at approximately $3,688,038.96. This represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Jacobs Solutions Stock Performance

J opened at $140.01 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. Jacobs Solutions Inc. has a 52-week low of $100.59 and a 52-week high of $150.54. The firm has a market cap of $17.40 billion, a P/E ratio of 27.67, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. The business’s fifty day moving average is $142.85 and its 200-day moving average is $142.62.

Jacobs Solutions Dividend Announcement

The company 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. This represents a $1.16 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, October 25th. Jacobs Solutions’s dividend payout ratio is currently 22.92%.

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.