Jacobs Solutions Inc. (NYSE:J) Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its stake in Jacobs Solutions Inc. (NYSE:J) by 5,498.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,265 shares of the company’s stock after purchasing an additional 41,510 shares during the period. Cullen Frost Bankers Inc.’s holdings in Jacobs Solutions were worth $5,486,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its position in Jacobs Solutions by 7.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,021 shares of the company’s stock valued at $133,000 after purchasing an additional 75 shares during the period. Private Trust Co. NA lifted its holdings in shares of Jacobs Solutions by 17.8% in the 4th quarter. Private Trust Co. NA now owns 575 shares of the company’s stock valued at $75,000 after buying an additional 87 shares during the period. Signaturefd LLC boosted its stake in shares of Jacobs Solutions by 11.4% in the third quarter. Signaturefd LLC now owns 887 shares of the company’s stock valued at $121,000 after buying an additional 91 shares in the last quarter. Janney Capital Management LLC grew its holdings in Jacobs Solutions by 2.8% during the third quarter. Janney Capital Management LLC now owns 3,430 shares of the company’s stock worth $468,000 after acquiring an additional 93 shares during the period. Finally, Souders Financial Advisors grew its holdings in Jacobs Solutions by 2.3% during the fourth quarter. Souders Financial Advisors now owns 4,351 shares of the company’s stock worth $565,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on J shares. Royal Bank of Canada raised their target price on Jacobs Solutions from $151.00 to $161.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Argus boosted their price objective on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Bank of America lifted their price target on shares of Jacobs Solutions from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Citigroup boosted their price target on Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Finally, KeyCorp initiated coverage on Jacobs Solutions in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.25.

Jacobs Solutions Price Performance

J stock opened at $138.52 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50 day moving average price is $147.34 and its 200 day moving average price is $138.31. The firm has a market cap of $17.40 billion, a P/E ratio of 24.73, a PEG ratio of 1.57 and a beta of 0.74. Jacobs Solutions Inc. has a 1 year low of $109.00 and a 1 year high of $154.50.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.07. The business 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 14.57% and a net margin of 4.20%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 earnings per share. On average, sell-side analysts expect that Jacobs Solutions Inc. will post 8.07 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 24th will be issued 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 0.84%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 20.71%.

Insider Activity

In other news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 555,138 shares in the company, valued at $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 related news, EVP Patrick Hill sold 5,486 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were 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 directly owns 57,233 shares in the company, valued at $8,527,717. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven J. Demetriou sold 7,000 shares of the 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 in the company, valued at approximately $85,047,141.60. The disclosure for this sale can be found here. Insiders sold a total of 24,338 shares of company stock valued at $3,618,695 over the last 90 days. Insiders own 1.00% of the company’s stock.

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.