CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Increases Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Jacobs Solutions Inc. (NYSE:J) by 11.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,000 shares of the company’s stock after acquiring an additional 2,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Jacobs Solutions were worth $2,487,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in Jacobs Solutions in the 2nd quarter worth approximately $26,000. Bruce G. Allen Investments LLC lifted its position in Jacobs Solutions by 427.5% during the second quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after buying an additional 171 shares during the period. LRI Investments LLC purchased a new position in Jacobs Solutions during the first quarter worth about $48,000. Central Pacific Bank Trust Division acquired a new position in shares of Jacobs Solutions during the 1st quarter valued at about $48,000. Finally, GAMMA Investing LLC raised its holdings in shares of Jacobs Solutions by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock worth $53,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Price Performance

NYSE:J traded down $1.32 during midday trading on Tuesday, hitting $142.22. 204,427 shares of the stock were exchanged, compared to its average volume of 809,236. The company has a market capitalization of $17.81 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.39 and a beta of 0.72. 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 one year low of $100.59 and a one year high of $144.56. The business has a 50-day moving average price of $144.64 and a two-hundred day moving average price of $142.86.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, hitting analysts’ consensus estimates of $1.96. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.39 billion. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.82 EPS. Sell-side analysts predict that Jacobs Solutions Inc. will post 7.95 EPS for the current year.

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 annualized dividend and a dividend yield of 0.82%. Jacobs Solutions’s dividend payout ratio is currently 22.39%.

Analysts Set New Price Targets

Several research firms recently commented on J. Truist Financial cut their price target on shares of Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. UBS Group upped their price target on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Raymond James raised shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a report on Friday, October 4th. Citigroup upped their target price on shares of Jacobs Solutions from $138.60 to $166.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada lifted their price target on Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $159.30.

Insider Activity

In other Jacobs Solutions news, SVP William B. Allen, Jr. sold 1,451 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.51, for a total value of $212,586.01. Following the completion of the transaction, the senior vice president now directly owns 26,699 shares in the company, valued at $3,911,670.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, SVP William B. Allen, Jr. sold 1,451 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.51, for a total value of $212,586.01. Following the transaction, the senior vice president now owns 26,699 shares in the company, valued at $3,911,670.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Shelette M. Gustafson sold 4,167 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $150.14, for a total transaction of $625,633.38. Following the transaction, the executive vice president now directly owns 24,564 shares in the company, valued at $3,688,038.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,516 shares of company stock worth $2,152,693. Insiders own 1.00% of the company’s stock.

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.