Cullen Frost Bankers Inc. Increases Stock Position in Jacobs Solutions Inc. (NYSE:J)

Cullen Frost Bankers Inc. increased its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 5,498.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,265 shares of the company’s stock after purchasing an additional 41,510 shares during the period. Cullen Frost Bankers Inc.’s holdings in Jacobs Solutions were worth $5,486,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its position in Jacobs Solutions by 29.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 20,320 shares of the company’s stock worth $2,774,000 after purchasing an additional 4,565 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Jacobs Solutions by 14.7% in the third quarter. Raymond James & Associates now owns 80,498 shares of the company’s stock worth $10,988,000 after buying an additional 10,296 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Jacobs Solutions by 106.8% in the third quarter. Mackenzie Financial Corp now owns 100,791 shares of the company’s stock worth $13,420,000 after buying an additional 52,063 shares during the last quarter. Strs Ohio grew its position in Jacobs Solutions by 555.6% during the third quarter. Strs Ohio now owns 104,279 shares of the company’s stock valued at $14,234,000 after buying an additional 88,372 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in Jacobs Solutions by 3.0% during the third quarter. IFM Investors Pty Ltd now owns 12,551 shares of the company’s stock valued at $1,713,000 after buying an additional 364 shares during the last quarter. Institutional investors own 85.65% of the company’s stock.

Insider Transactions at Jacobs Solutions

In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the transaction, the insider now owns 548,138 shares of the company’s stock, valued at approximately $78,855,132.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the sale, the insider now owns 548,138 shares of the company’s stock, valued at approximately $78,855,132.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shelette M. Gustafson sold 1,852 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $148.00, for a total value of $274,096.00. Following the completion of the transaction, the executive vice president now directly owns 28,791 shares of the company’s stock, valued at $4,261,068. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,338 shares of company stock valued at $3,618,695. 1.00% of the stock is currently owned by corporate insiders.

Jacobs Solutions Trading Down 2.2 %

Shares of NYSE J opened at $138.52 on Thursday. Jacobs Solutions Inc. has a fifty-two week low of $109.00 and a fifty-two week high of $154.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.57 and a beta of 0.74. The business’s 50 day moving average price is $147.34 and its 200-day moving average price is $138.31.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.07. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.33 billion. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.81 earnings per share. On average, sell-side analysts expect that Jacobs Solutions Inc. will post 8.07 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 24th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 23rd. Jacobs Solutions’s dividend payout ratio is 20.71%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Truist Financial cut their price objective on Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating for the company in a research note on Wednesday. Bank of America increased their price objective on shares of Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Robert W. Baird decreased their price objective on shares of Jacobs Solutions from $168.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday. KeyCorp initiated coverage on shares of Jacobs Solutions in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Finally, Royal Bank of Canada raised their price target on Jacobs Solutions from $151.00 to $161.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.25.

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.