Malaga Cove Capital LLC Sells 149 Shares of Jacobs Solutions Inc. (NYSE:J)

Malaga Cove Capital LLC reduced its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,006 shares of the company’s stock after selling 149 shares during the period. Jacobs Solutions accounts for approximately 1.8% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 9th biggest holding. Malaga Cove Capital LLC’s holdings in Jacobs Solutions were worth $4,582,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in J. Two Point Capital Management Inc. grew its position in shares of Jacobs Solutions by 1.0% during the 3rd quarter. Two Point Capital Management Inc. now owns 95,151 shares of the company’s stock worth $12,455,000 after buying an additional 941 shares during the period. Marks Group Wealth Management Inc boosted its stake in Jacobs Solutions by 13.6% during the third quarter. Marks Group Wealth Management Inc now owns 64,074 shares of the company’s stock worth $8,387,000 after acquiring an additional 7,695 shares in the last quarter. HMS Capital Management LLC grew its holdings in Jacobs Solutions by 12.4% in the third quarter. HMS Capital Management LLC now owns 5,772 shares of the company’s stock worth $756,000 after purchasing an additional 636 shares during the period. Crestwood Advisors Group LLC increased its stake in Jacobs Solutions by 0.3% in the third quarter. Crestwood Advisors Group LLC now owns 80,071 shares of the company’s stock valued at $10,481,000 after purchasing an additional 224 shares in the last quarter. Finally, Greenwood Capital Associates LLC acquired a new position in shares of Jacobs Solutions during the third quarter valued at about $2,330,000. 85.65% of the stock is owned by institutional investors.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $147.62 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $143.17 and a two-hundred day simple moving average of $142.59. Jacobs Solutions Inc. has a 1-year low of $100.59 and a 1-year high of $148.89. The firm has a market cap of $18.34 billion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 1.41 and a beta of 0.71.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, August 6th. The company reported $1.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.96. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.39 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $1.82 earnings per share. Analysts anticipate that Jacobs Solutions Inc. will post 7.95 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.79%. Jacobs Solutions’s payout ratio is 22.92%.

Insider Buying and Selling

In other news, SVP William B. Allen, Jr. sold 1,451 shares of the firm’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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Shelette M. Gustafson sold 4,167 shares of Jacobs Solutions stock in a transaction dated 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 sale, the executive vice president now owns 24,564 shares in the company, valued at approximately $3,688,038.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William B. Allen, Jr. sold 1,451 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $3,911,670.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,516 shares of company stock valued at $1,124,533. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on J shares. Royal Bank of Canada boosted their price target on shares of Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Citigroup upped 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. Robert W. Baird cut their price target on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. UBS Group increased their price objective on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, 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 report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Jacobs Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.30.

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.