Wedge Capital Management L L P NC Sells 6,397 Shares of Jacobs Solutions Inc. (NYSE:J)

Wedge Capital Management L L P NC lowered its stake in Jacobs Solutions Inc. (NYSE:J) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,171 shares of the company’s stock after selling 6,397 shares during the quarter. Wedge Capital Management L L P NC owned about 0.07% of Jacobs Solutions worth $11,704,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its position in Jacobs Solutions by 0.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,446,374 shares of the company’s stock valued at $447,339,000 after buying an additional 14,821 shares during the period. Ninety One UK Ltd boosted its holdings in shares of Jacobs Solutions by 5.9% during the fourth quarter. Ninety One UK Ltd now owns 2,044,031 shares of the company’s stock valued at $265,315,000 after acquiring an additional 114,076 shares during the period. Third Point LLC increased its holdings in shares of Jacobs Solutions by 32.8% in the 3rd quarter. Third Point LLC now owns 1,800,000 shares of the company’s stock valued at $245,700,000 after purchasing an additional 445,018 shares during the period. Invesco Ltd. raised its stake in shares of Jacobs Solutions by 0.4% in the third quarter. Invesco Ltd. now owns 1,714,552 shares of the company’s stock valued at $234,036,000 after purchasing an additional 7,548 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Jacobs Solutions by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 869,567 shares of the company’s stock worth $118,696,000 after buying an additional 10,427 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Up 0.6 %

Shares of J traded up $0.92 during trading on Tuesday, reaching $145.03. The company’s stock had a trading volume of 17,453 shares, compared to its average volume of 646,376. Jacobs Solutions Inc. has a twelve month low of $109.00 and a twelve month high of $154.50. The company has a market cap of $18.22 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 1.52 and a beta of 0.73. The company has a fifty day moving average of $147.59 and a two-hundred day moving average of $137.73. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.42.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.46. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.67 earnings per share. On average, sell-side analysts predict that Jacobs Solutions Inc. will post 8.07 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, February 23rd were paid a dividend of $0.29 per share. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.80%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 20.71%.

Insider Buying and Selling

In other news, 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 transaction of $229,800.00. Following the completion of the transaction, the chief financial officer now directly owns 233,104 shares in the company, valued at approximately $35,711,532.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Jacobs Solutions news, CFO Kevin C. Berryman sold 1,500 shares of the firm’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 $229,800.00. Following the completion of the sale, the chief financial officer now owns 233,104 shares in the company, valued at approximately $35,711,532.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Patrick Hill sold 5,486 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $149.00, for a total value of $817,414.00. Following the completion of the sale, the executive vice president now owns 57,233 shares of the company’s stock, valued at approximately $8,527,717. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,838 shares of company stock worth $2,393,710. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on J. Citigroup lifted their price objective on Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a report on Monday. Argus boosted their price objective on Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. KeyCorp initiated coverage on Jacobs Solutions in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Royal Bank of Canada boosted their price objective on Jacobs Solutions from $151.00 to $161.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Bank of America increased their price objective on Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.25.

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.