Redwood Investment Management LLC Purchases Shares of 8,213 Jacobs Solutions Inc. $J

Redwood Investment Management LLC acquired a new stake in shares of Jacobs Solutions Inc. (NYSE:J) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 8,213 shares of the company’s stock, valued at approximately $1,045,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its stake in Jacobs Solutions by 828.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,326,988 shares of the company’s stock worth $174,434,000 after purchasing an additional 1,184,068 shares in the last quarter. Focus Partners Wealth increased its stake in Jacobs Solutions by 246.3% during the 4th quarter. Focus Partners Wealth now owns 1,338,698 shares of the company’s stock valued at $177,324,000 after purchasing an additional 952,151 shares in the last quarter. L1 Capital International Pty Ltd raised its holdings in shares of Jacobs Solutions by 363.6% in the fourth quarter. L1 Capital International Pty Ltd now owns 723,533 shares of the company’s stock worth $95,839,000 after buying an additional 567,478 shares during the last quarter. Morgan Stanley raised its holdings in shares of Jacobs Solutions by 19.5% in the fourth quarter. Morgan Stanley now owns 3,379,681 shares of the company’s stock worth $447,673,000 after buying an additional 552,277 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Jacobs Solutions by 68.8% during the second quarter. AQR Capital Management LLC now owns 1,288,843 shares of the company’s stock worth $168,194,000 after buying an additional 525,291 shares during the period. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on J. Weiss Ratings cut Jacobs Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Truist Financial reduced their price objective on Jacobs Solutions from $150.00 to $149.00 and set a “hold” rating for the company in a research note on Thursday, July 2nd. KeyCorp decreased their target price on Jacobs Solutions from $154.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Wall Street Zen lowered Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Robert W. Baird cut their price target on shares of Jacobs Solutions from $130.00 to $126.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $153.30.

Jacobs Solutions Trading Up 2.8%

J stock opened at $138.72 on Tuesday. Jacobs Solutions Inc. has a 12-month low of $105.68 and a 12-month high of $168.44. The business’s 50-day moving average is $126.54 and its 200 day moving average is $129.11. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.24. The stock has a market cap of $16.38 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 1.31 and a beta of 0.68.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. Jacobs Solutions had a return on equity of 22.29% and a net margin of 2.92%.The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the business posted $1.43 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Jacobs Solutions Inc. will post 7.22 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be paid a $0.36 dividend. The ex-dividend date is Friday, August 21st. This represents a $1.44 annualized dividend and a dividend yield of 1.0%. Jacobs Solutions’s payout ratio is 44.72%.

Insiders Place Their Bets

In other Jacobs Solutions news, Director Manuel J. Fernandez bought 253 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $112.56 per share, for a total transaction of $28,477.68. Following the completion of the purchase, the director directly owned 12,504 shares in the company, valued at $1,407,450.24. This trade represents a 2.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert V. Pragada acquired 3,601 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was bought at an average price of $111.09 per share, with a total value of $400,035.09. Following the purchase, the chief executive officer directly owned 333,755 shares of the company’s stock, valued at $37,076,842.95. This represents a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 4,257 shares of company stock worth $477,651 in the last ninety days. Corporate insiders own 0.48% of the company’s stock.

Jacobs Solutions Profile

Jacobs Solutions Inc, commonly known as Jacobs, is a global professional services firm that provides technical, engineering, scientific and project delivery expertise across a broad range of industries. Founded in 1947 by Joseph J. Jacobs in Pasadena, California, the company evolved from a regional engineering consultancy into a diversified provider of design, program and construction management, operations and maintenance, and scientific services for complex infrastructure and industrial programs.