CIBC Asset Management Inc Buys 1,360 Shares of Jacobs Solutions Inc. (NYSE:J)

CIBC Asset Management Inc raised its stake in Jacobs Solutions Inc. (NYSE:J) by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,217 shares of the company’s stock after acquiring an additional 1,360 shares during the period. CIBC Asset Management Inc’s holdings in Jacobs Solutions were worth $2,385,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. EdgeRock Capital LLC bought a new position in shares of Jacobs Solutions in the second quarter valued at approximately $26,000. Bruce G. Allen Investments LLC boosted its stake in Jacobs Solutions by 427.5% in the second quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Jacobs Solutions during the first quarter worth $48,000. Capital Performance Advisors LLP acquired a new stake in shares of Jacobs Solutions in the third quarter valued at $42,000. Finally, GAMMA Investing LLC increased its stake in shares of Jacobs Solutions by 55.8% in the third quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock valued at $53,000 after buying an additional 145 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Price Performance

Jacobs Solutions stock opened at $133.56 on Wednesday. The firm has a market capitalization of $16.59 billion, a P/E ratio of 26.40, a PEG ratio of 1.57 and a beta of 0.71. The business has a 50-day moving average of $142.57 and a 200-day moving average of $142.48. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31. Jacobs Solutions Inc. has a 1 year low of $100.59 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 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.71). The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $4.50 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 EPS. On average, equities analysts anticipate that Jacobs Solutions Inc. will post 7.02 EPS for the current year.

Jacobs Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 0.87%. Jacobs Solutions’s payout ratio is 22.92%.

Insider Transactions at Jacobs Solutions

In other news, Director Christopher M.T. Thompson sold 1,898 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $150.85, for a total value of $286,313.30. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Shelette M. Gustafson sold 4,167 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $150.14, for a total value of $625,633.38. Following the transaction, the executive vice president now owns 24,564 shares of the company’s stock, valued at approximately $3,688,038.96. The trade was a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on J shares. Citigroup increased their price objective on shares of Jacobs Solutions from $138.60 to $166.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird dropped their price objective on shares of Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Raymond James upgraded Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price objective on the stock in a research report on Friday, October 4th. Truist Financial dropped their target price 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. Finally, UBS Group raised their price target on Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $159.30.

Jacobs Solutions 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.