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

Wedge Capital Management L L P NC cut its position in Jacobs Solutions Inc. (NYSE:J) by 1.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 82,613 shares of the company’s stock after selling 929 shares during the period. Wedge Capital Management L L P NC’s holdings in Jacobs Solutions were worth $11,039,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in J. Boston Common Asset Management LLC bought a new position in Jacobs Solutions during the fourth quarter worth $3,976,000. Occidental Asset Management LLC boosted its position in Jacobs Solutions by 11.7% during the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock worth $3,347,000 after purchasing an additional 2,619 shares during the period. Heritage Family Offices LLP boosted its position in Jacobs Solutions by 55.7% during the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock worth $1,993,000 after purchasing an additional 5,332 shares during the period. Essex Savings Bank bought a new position in Jacobs Solutions during the fourth quarter worth $204,000. Finally, Pinnacle Bancorp Inc. boosted its position in Jacobs Solutions by 11.1% during the fourth quarter. Pinnacle Bancorp Inc. now owns 3,009 shares of the company’s stock worth $402,000 after purchasing an additional 300 shares during the period. 85.65% of the stock is owned by institutional investors.

Jacobs Solutions Stock Up 0.6 %

J stock opened at $139.18 on Friday. The company has a market cap of $17.26 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.00 and a beta of 0.72. The business has a 50-day simple moving average of $136.91 and a 200 day simple moving average of $141.46. Jacobs Solutions Inc. has a 52 week low of $108.64 and a 52 week high of $150.54. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.30.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings results on Tuesday, November 19th. The company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.71). Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same period last year, the firm earned $1.90 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts anticipate that Jacobs Solutions Inc. will post 6.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on J. Robert W. Baird lifted their target price on Jacobs Solutions from $147.00 to $149.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Truist Financial lifted their target price on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Raymond James raised Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.11.

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.