Mechanics Financial Corp Has $735,000 Holdings in Jacobs Solutions Inc. (NYSE:J)

Mechanics Financial Corp increased its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,262 shares of the company’s stock after buying an additional 144 shares during the period. Mechanics Financial Corp’s holdings in Jacobs Solutions were worth $735,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Jacobs Solutions by 7.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 42,031 shares of the company’s stock valued at $5,456,000 after acquiring an additional 2,836 shares during the last quarter. AGF Management Ltd. grew its holdings in shares of Jacobs Solutions by 1.5% in the 4th quarter. AGF Management Ltd. now owns 1,216,849 shares of the company’s stock valued at $157,947,000 after buying an additional 18,484 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Jacobs Solutions by 8.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 139,469 shares of the company’s stock worth $21,441,000 after acquiring an additional 10,542 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Jacobs Solutions by 90.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 18,623 shares of the company’s stock worth $2,417,000 after purchasing an additional 8,848 shares during the period. Finally, Armstrong Henry H Associates Inc. bought a new position in shares of Jacobs Solutions during the 1st quarter valued at about $2,626,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

Shares of NYSE:J traded up $0.88 on Monday, hitting $150.88. The company had a trading volume of 830,700 shares, compared to its average volume of 662,555. The stock has a market cap of $18.75 billion, a price-to-earnings ratio of 29.13, a P/E/G ratio of 1.73 and a beta of 0.70. The stock has a 50 day moving average price of $144.28 and a 200 day moving average price of $144.23. Jacobs Solutions Inc. has a 1-year low of $120.71 and a 1-year high of $154.50. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.96. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.82 earnings per share. Analysts expect that Jacobs Solutions Inc. will post 7.97 EPS for the current year.

Jacobs Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.16 dividend on an annualized basis and a yield of 0.77%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.39%.

Analysts Set New Price Targets

A number of brokerages have recently commented on J. StockNews.com lowered shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. William Blair cut shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 8th. Truist Financial restated a “hold” rating and issued a $158.00 price objective (up previously from $153.00) on shares of Jacobs Solutions in a report on Wednesday, August 7th. UBS Group upped 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. Finally, Royal Bank of Canada raised their price target on Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $160.40.

Insider Transactions at Jacobs Solutions

In other news, SVP William B. Allen, Jr. sold 1,451 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $146.51, for a total value of $212,586.01. Following the completion of the transaction, the senior vice president now directly owns 26,699 shares in the company, valued at approximately $3,911,670.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP William B. Allen, Jr. sold 1,451 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 26,699 shares of the company’s stock, valued at approximately $3,911,670.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.88, for a total value of $1,028,160.00. Following the completion of the sale, the insider now directly owns 527,138 shares in the company, valued at $77,426,029.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,451 shares of company stock valued at $2,220,326. 1.00% of the stock is owned by corporate insiders.

Jacobs Solutions Company 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.