Oppenheimer Asset Management Inc. Has $4.31 Million Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Oppenheimer Asset Management Inc. cut its stake in Jacobs Solutions Inc. (NYSE:J) by 6.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,949 shares of the company’s stock after selling 2,158 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Jacobs Solutions were worth $4,313,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Tlwm increased its stake in shares of Jacobs Solutions by 1.2% in the second quarter. Tlwm now owns 6,046 shares of the company’s stock worth $845,000 after acquiring an additional 74 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its holdings in Jacobs Solutions by 1.4% in the second quarter. Hudson Edge Investment Partners Inc. now owns 5,967 shares of the company’s stock worth $834,000 after purchasing an additional 82 shares in the last quarter. American National Bank boosted its holdings in Jacobs Solutions by 1.4% in the second quarter. American National Bank now owns 6,488 shares of the company’s stock worth $906,000 after purchasing an additional 88 shares in the last quarter. Global Financial Private Client LLC boosted its holdings in Jacobs Solutions by 2.6% in the second quarter. Global Financial Private Client LLC now owns 3,944 shares of the company’s stock worth $551,000 after purchasing an additional 100 shares in the last quarter. Finally, Gabelli Funds LLC boosted its holdings in Jacobs Solutions by 6.9% in the second quarter. Gabelli Funds LLC now owns 1,550 shares of the company’s stock worth $217,000 after purchasing an additional 100 shares in the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Jacobs Solutions Stock Performance

NYSE:J opened at $140.01 on Friday. Jacobs Solutions Inc. has a 12-month low of $100.59 and a 12-month high of $150.54. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $17.40 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. The firm has a 50-day moving average price of $142.88 and a 200 day moving average price of $142.67.

Jacobs Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, October 25th. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.92%.

Wall Street Analysts Forecast Growth

J has been the subject of a number of recent research reports. Royal Bank of Canada upped their price objective on shares of Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Raymond James upgraded 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. UBS Group upped their price objective on shares of Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. StockNews.com cut shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Citigroup upped their price target on shares of Jacobs Solutions from $138.60 to $166.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $159.30.

Insider Transactions at Jacobs Solutions

In other news, EVP Shelette M. Gustafson sold 4,167 shares of the firm’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 completion of the sale, the executive vice president now owns 24,564 shares of the company’s stock, valued at approximately $3,688,038.96. This trade represents a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christopher M.T. Thompson sold 1,898 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $150.85, for a total transaction of $286,313.30. Following the sale, the director now directly owns 42,069 shares of the company’s stock, valued at approximately $6,346,108.65. The trade was a 4.32 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

About Jacobs Solutions

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.