Primecap Management Co. CA Has $690.01 Million Position in Jacobs Solutions Inc. (NYSE:J)

Primecap Management Co. CA cut its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,271,282 shares of the company’s stock after selling 310,940 shares during the period. Primecap Management Co. CA’s holdings in Jacobs Solutions were worth $690,011,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. EdgeRock Capital LLC purchased a new position in Jacobs Solutions during the 2nd quarter valued at about $26,000. Bruce G. Allen Investments LLC boosted its stake in Jacobs Solutions by 427.5% in the second quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after buying an additional 171 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Jacobs Solutions in the third quarter valued at approximately $42,000. Finally, LRI Investments LLC bought a new stake in Jacobs Solutions in the first quarter valued at approximately $48,000. 85.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 value of $625,633.38. Following the completion of the transaction, the executive vice president now owns 24,564 shares in the company, valued at approximately $3,688,038.96. The trade was a 14.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher M.T. Thompson sold 1,898 shares of Jacobs Solutions stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $150.85, for a total transaction of $286,313.30. Following the completion of the transaction, the director now owns 42,069 shares of the company’s stock, valued at $6,346,108.65. This represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

J has been the subject of a number of recent analyst reports. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday. UBS Group increased their target price on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Truist Financial dropped their price objective on Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Raymond James raised Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price objective on the stock in a research report on Friday, October 4th. 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 report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Jacobs Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $157.70.

Jacobs Solutions Trading Down 0.8 %

Shares of Jacobs Solutions stock opened at $132.45 on Thursday. The firm has a market capitalization of $16.46 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.04 and a beta of 0.71. Jacobs Solutions Inc. has a 12-month low of $100.59 and a 12-month high of $150.54. The firm’s 50 day simple moving average is $142.38 and its two-hundred day simple moving average is $142.41. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.30.

Jacobs Solutions (NYSE:J) last released its quarterly earnings results on Tuesday, November 19th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.71). The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $4.50 billion. Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 EPS. Analysts predict that Jacobs Solutions Inc. will post 6 EPS for the current year.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, October 25th. Jacobs Solutions’s payout ratio is currently 18.33%.

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.