Tower Bridge Advisors Trims Holdings in Jacobs Solutions Inc. (NYSE:J)

Tower Bridge Advisors decreased its position in shares of Jacobs Solutions Inc. (NYSE:J) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,637 shares of the company’s stock after selling 2,861 shares during the period. Jacobs Solutions accounts for about 1.7% of Tower Bridge Advisors’ investment portfolio, making the stock its 12th largest position. Tower Bridge Advisors’ holdings in Jacobs Solutions were worth $16,446,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in shares of Jacobs Solutions in the second quarter worth about $26,000. Bruce G. Allen Investments LLC lifted its holdings in Jacobs Solutions by 427.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Jacobs Solutions in the 3rd quarter worth approximately $42,000. LRI Investments LLC bought a new position in Jacobs Solutions in the 1st quarter worth approximately $48,000. Finally, GAMMA Investing LLC raised its position in shares of Jacobs Solutions by 55.8% during the third quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock valued at $53,000 after buying an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. Raymond James raised 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. UBS Group increased their price target on Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Truist Financial reduced their price objective 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. Finally, Royal Bank of Canada increased their target price on Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $159.30.

Insider Buying and Selling

In related news, EVP Shelette M. Gustafson sold 4,167 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 24,564 shares in the company, valued at $3,688,038.96. The trade was a 14.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher M.T. Thompson sold 1,898 shares of the stock in a transaction on 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 owns 42,069 shares in the company, valued at approximately $6,346,108.65. The trade was a 4.32 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Jacobs Solutions Stock Down 0.4 %

Shares of J opened at $140.01 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $142.85 and a 200 day moving average of $142.62. The company has a market cap of $17.40 billion, a PE ratio of 27.67, a P/E/G ratio of 1.47 and a beta of 0.71. Jacobs Solutions Inc. has a 52-week low of $100.59 and a 52-week high of $150.54.

Jacobs Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a $0.29 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.16 annualized dividend and a dividend yield of 0.83%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.92%.

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.