Eastern Bank Sells 1,052 Shares of Jacobs Solutions Inc. $J

Eastern Bank cut its stake in Jacobs Solutions Inc. (NYSE:J) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,442 shares of the company’s stock after selling 1,052 shares during the quarter. Eastern Bank’s holdings in Jacobs Solutions were worth $12,940,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in J. Rossby Financial LCC purchased a new stake in shares of Jacobs Solutions in the 1st quarter worth about $33,000. Costello Asset Management INC purchased a new stake in shares of Jacobs Solutions in the 2nd quarter worth about $43,000. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Jacobs Solutions in the 2nd quarter worth about $44,000. Ransom Advisory Ltd purchased a new stake in shares of Jacobs Solutions in the 2nd quarter worth about $53,000. Finally, Colonial Trust Advisors purchased a new stake in shares of Jacobs Solutions in the 1st quarter worth about $51,000. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Stock Performance

Shares of J stock opened at $151.02 on Friday. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $157.89. The company’s 50-day moving average is $148.29 and its 200 day moving average is $134.39. The company has a market capitalization of $18.05 billion, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 1.83 and a beta of 0.81. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.39 and a current ratio of 1.39.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.09 billion. Jacobs Solutions had a net margin of 4.16% and a return on equity of 17.13%. Jacobs Solutions’s revenue for the quarter was down 28.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 EPS. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. Sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 22nd. Jacobs Solutions’s dividend payout ratio (DPR) is presently 31.92%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group upped their target price on shares of Jacobs Solutions from $152.00 to $166.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Citigroup upped their target price on shares of Jacobs Solutions from $147.47 to $166.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Wall Street Zen raised shares of Jacobs Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Truist Financial upped their target price on shares of Jacobs Solutions from $148.00 to $163.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Jacobs Solutions in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.71.

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.