PNC Financial Services Group Inc. Buys 6,201 Shares of Jacobs Solutions Inc. (NYSE:J)

PNC Financial Services Group Inc. increased its position in Jacobs Solutions Inc. (NYSE:J) by 16.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,343 shares of the company’s stock after purchasing an additional 6,201 shares during the period. PNC Financial Services Group Inc.’s holdings in Jacobs Solutions were worth $5,674,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Jacobs Solutions during the 3rd quarter valued at $1,575,000. Quest Partners LLC boosted its position in shares of Jacobs Solutions by 1,989.8% during the third quarter. Quest Partners LLC now owns 24,848 shares of the company’s stock valued at $3,253,000 after buying an additional 23,659 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Jacobs Solutions by 28.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock worth $70,296,000 after buying an additional 117,940 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Jacobs Solutions by 7.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 40,956 shares of the company’s stock worth $5,361,000 after buying an additional 2,675 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in Jacobs Solutions by 0.6% during the 3rd quarter. Natixis Advisors LLC now owns 200,675 shares of the company’s stock valued at $26,269,000 after acquiring an additional 1,106 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on J. Royal Bank of Canada reduced their price target on shares of Jacobs Solutions from $167.00 to $152.00 and set an “outperform” rating for the company in a research note on Thursday. Citigroup decreased their target price on shares of Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday. Raymond James upgraded Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a research note on Friday, October 4th. Robert W. Baird upped their price objective on Jacobs Solutions from $147.00 to $149.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, StockNews.com began coverage on Jacobs Solutions in a research report on Monday, November 18th. They issued a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.50.

Jacobs Solutions Stock Up 1.4 %

NYSE J opened at $137.36 on Friday. The stock’s 50-day moving average price is $142.11 and its 200-day moving average price is $142.29. The company has a market capitalization of $17.07 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 2.04 and a beta of 0.71. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.30. Jacobs Solutions Inc. has a 52 week low of $101.64 and a 52 week high of $150.54.

Jacobs Solutions (NYSE:J) last issued its quarterly 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). The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. Jacobs Solutions’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 EPS. On average, equities research analysts predict that Jacobs Solutions Inc. will post 6.08 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were paid a $0.29 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 0.84%. Jacobs Solutions’s payout ratio is presently 18.33%.

Insider Buying and Selling at Jacobs Solutions

In other Jacobs Solutions news, Director Christopher M.T. Thompson sold 1,898 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $150.85, for a total transaction of $286,313.30. Following the completion of the transaction, the director now owns 42,069 shares of the company’s stock, valued at $6,346,108.65. This represents a 4.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shelette M. Gustafson sold 4,167 shares of Jacobs Solutions 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 completion of the sale, the executive vice president now directly owns 24,564 shares in the company, valued at $3,688,038.96. This trade represents a 14.50 % 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.

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.