Wedge Capital Management L L P NC Sells 929 Shares of Jacobs Solutions Inc. (NYSE:J)

Wedge Capital Management L L P NC lowered its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,613 shares of the company’s stock after selling 929 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.07% of Jacobs Solutions worth $11,039,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in J. First Horizon Advisors Inc. lifted its position in Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Quarry LP lifted its position in Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after purchasing an additional 233 shares during the period. Capital Performance Advisors LLP acquired a new position in Jacobs Solutions during the 3rd quarter valued at about $42,000. True Wealth Design LLC acquired a new position in Jacobs Solutions during the 3rd quarter valued at about $44,000. Finally, GAMMA Investing LLC lifted its position in Jacobs Solutions by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock valued at $53,000 after purchasing an additional 145 shares during the period. Institutional investors own 85.65% of the company’s stock.

Wall Street Analysts Forecast Growth

J has been the topic of a number of research reports. StockNews.com started coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. Raymond James upgraded shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a research report on Friday, October 4th. Truist Financial increased their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $156.11.

Jacobs Solutions Stock Performance

Shares of J stock opened at $139.18 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $17.26 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 2.00 and a beta of 0.72. The company’s 50 day moving average price is $136.91 and its two-hundred day moving average price is $141.46. Jacobs Solutions Inc. has a 52 week low of $108.64 and a 52 week high of $150.54.

Jacobs Solutions (NYSE:J) last announced 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 company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $4.50 billion. Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $1.90 earnings per share. On average, analysts expect that Jacobs Solutions Inc. will post 6.06 earnings per share for the current fiscal year.

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.