Montecito Bank & Trust Sells 467 Shares of Jacobs Solutions Inc. (NYSE:J)

Montecito Bank & Trust cut its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 23.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,493 shares of the company’s stock after selling 467 shares during the period. Montecito Bank & Trust’s holdings in Jacobs Solutions were worth $230,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in Jacobs Solutions by 2.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 20,422 shares of the company’s stock valued at $3,139,000 after buying an additional 454 shares in the last quarter. Mather Group LLC. bought a new position in shares of Jacobs Solutions in the first quarter worth about $207,000. Compass Wealth Management LLC boosted its stake in shares of Jacobs Solutions by 3.1% in the 1st quarter. Compass Wealth Management LLC now owns 27,201 shares of the company’s stock valued at $4,182,000 after purchasing an additional 821 shares in the last quarter. NBC Securities Inc. grew its holdings in shares of Jacobs Solutions by 11.2% during the 1st quarter. NBC Securities Inc. now owns 2,793 shares of the company’s stock valued at $429,000 after purchasing an additional 281 shares during the last quarter. Finally, Kapitalo Investimentos Ltda increased its position in Jacobs Solutions by 45.5% during the 4th quarter. Kapitalo Investimentos Ltda now owns 1,467 shares of the company’s stock worth $190,000 after purchasing an additional 459 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on J shares. Bank of America boosted their target price on shares of Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. William Blair cut Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. Citigroup lifted their price target on Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Argus upped their price objective on Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Finally, StockNews.com lowered shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 13th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Jacobs Solutions has an average rating of “Moderate Buy” and a consensus target price of $156.82.

Jacobs Solutions Trading Up 0.1 %

J traded up $0.10 during trading on Thursday, reaching $141.10. 651,507 shares of the stock traded hands, compared to its average volume of 649,545. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average is $140.94 and its 200 day moving average is $139.93. Jacobs Solutions Inc. has a 12 month low of $114.09 and a 12 month high of $154.50. The stock has a market capitalization of $17.67 billion, a PE ratio of 27.32, a P/E/G ratio of 1.62 and a beta of 0.73.

Jacobs Solutions (NYSE:J) last announced its earnings results on Tuesday, May 7th. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.84 by $0.07. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.33 billion. Jacobs Solutions had a return on equity of 14.59% and a net margin of 3.83%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.81 EPS. Equities analysts anticipate that Jacobs Solutions Inc. will post 7.98 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 24th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.82%. Jacobs Solutions’s payout ratio is presently 22.39%.

Insiders Place Their Bets

In other news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the transaction, the insider now owns 555,138 shares of the company’s stock, valued at approximately $85,047,141.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the transaction, the insider now directly owns 555,138 shares of the company’s stock, valued at $85,047,141.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin C. Berryman sold 1,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $153.20, for a total value of $229,800.00. Following the completion of the transaction, the chief financial officer now owns 233,104 shares in the company, valued at $35,711,532.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,000 shares of company stock worth $3,503,195. 1.00% of the stock is currently owned by company 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.