Jacobs Solutions Inc. (NYSE:J) Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 44.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 149,653 shares of the company’s stock after selling 117,646 shares during the quarter. Citigroup Inc.’s holdings in Jacobs Solutions were worth $19,590,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in J. EdgeRock Capital LLC purchased a new position in Jacobs Solutions in the second quarter worth approximately $26,000. Bruce G. Allen Investments LLC grew its holdings in shares of Jacobs Solutions by 427.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares during the period. First Horizon Advisors Inc. increased its position in shares of Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Jacobs Solutions in the 3rd quarter valued at about $42,000. Finally, LRI Investments LLC acquired a new position in Jacobs Solutions in the first quarter valued at about $48,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $140.69 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 1.14. The company has a market cap of $17.48 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 2.07 and a beta of 0.71. The stock’s 50-day moving average is $141.92 and its two-hundred day moving average is $142.32. Jacobs Solutions Inc. has a 1-year low of $101.64 and a 1-year high of $150.54.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, November 19th. The company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.71). Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same period last year, the business earned $1.90 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. Analysts forecast that Jacobs Solutions Inc. will post 6.07 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 0.82%. Jacobs Solutions’s payout ratio is currently 18.33%.

Insider Transactions at Jacobs Solutions

In other news, EVP Shelette M. Gustafson sold 4,167 shares of Jacobs Solutions stock in a transaction 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 transaction, the executive vice president now directly owns 24,564 shares of the company’s stock, valued at $3,688,038.96. The trade was a 14.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher M.T. Thompson sold 1,898 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 42,069 shares in the company, valued at $6,346,108.65. The trade was a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

J has been the topic of a number of research analyst reports. Citigroup reduced their price target on shares of Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, November 20th. Raymond James raised Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 target price on the stock in a research report on Friday, October 4th. Truist Financial lowered their price target on Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Royal Bank of Canada cut their price objective on Jacobs Solutions from $167.00 to $152.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Finally, Robert W. Baird raised their target price on Jacobs Solutions from $147.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

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.