Redwood Investment Management LLC Takes $1.04 Million Position in Jacobs Solutions Inc. $J

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

A number of other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in shares of 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 boosted its stake in shares of Jacobs Solutions by 246.3% in the 4th quarter. Focus Partners Wealth now owns 1,338,698 shares of the company’s stock worth $177,324,000 after buying an additional 952,151 shares during the last quarter. L1 Capital International Pty Ltd grew 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 acquiring an additional 567,478 shares during the period. Morgan Stanley grew 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 acquiring an additional 552,277 shares during the period. Finally, AQR Capital Management LLC increased its position in Jacobs Solutions by 68.8% during the second quarter. AQR Capital Management LLC now owns 1,288,843 shares of the company’s stock valued at $168,194,000 after acquiring an additional 525,291 shares during the last quarter. Institutional investors own 85.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citigroup raised their target price on Jacobs Solutions from $180.00 to $181.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Truist Financial decreased their price target on shares of Jacobs Solutions from $150.00 to $149.00 and set a “hold” rating on the stock in a research report on Thursday, July 2nd. Weiss Ratings cut shares of Jacobs Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Robert W. Baird reduced their price objective on Jacobs Solutions from $130.00 to $126.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Jacobs Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $153.30.

Insiders Place Their Bets

In other Jacobs Solutions news, CEO Robert V. Pragada purchased 3,601 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $111.09 per share, with a total value of $400,035.09. Following the completion of the acquisition, the chief executive officer directly owned 333,755 shares in the company, valued at $37,076,842.95. The trade was a 1.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Manuel J. Fernandez purchased 253 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $112.56 per share, for a total transaction of $28,477.68. Following the completion of the acquisition, the director owned 12,504 shares in the company, valued at $1,407,450.24. This represents a 2.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 4,257 shares of company stock valued at $477,651 in the last quarter. 0.48% of the stock is currently owned by company insiders.

Jacobs Solutions Stock Performance

J opened at $138.72 on Tuesday. The firm has a market cap of $16.38 billion, a P/E ratio of 43.08, a PEG ratio of 1.31 and a beta of 0.68. Jacobs Solutions Inc. has a 1-year low of $105.68 and a 1-year high of $168.44. The company has a 50 day simple moving average of $126.54 and a two-hundred day simple moving average of $129.11. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.43.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. Jacobs Solutions had a net margin of 2.92% and a return on equity of 22.29%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the firm earned $1.43 EPS. The company’s revenue was up 8.9% on a year-over-year basis. Equities analysts forecast that Jacobs Solutions Inc. will post 7.22 earnings per share 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. This represents a $1.44 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 21st. Jacobs Solutions’s dividend payout ratio is presently 44.72%.

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.