CI Investments Inc. Has $74.86 Million Stake in Jacobs Solutions Inc. (NYSE:J)

CI Investments Inc. trimmed its position in shares of Jacobs Solutions Inc. (NYSE:JGet Rating) by 15.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 588,865 shares of the company’s stock after selling 109,630 shares during the quarter. CI Investments Inc. owned approximately 0.46% of Jacobs Solutions worth $74,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Clear Street Markets LLC lifted its holdings in Jacobs Solutions by 405.7% in the 2nd quarter. Clear Street Markets LLC now owns 268 shares of the company’s stock worth $34,000 after purchasing an additional 215 shares during the last quarter. CX Institutional acquired a new position in shares of Jacobs Solutions during the second quarter worth approximately $35,000. First Horizon Advisors Inc. increased its position in shares of Jacobs Solutions by 593.0% during the second quarter. First Horizon Advisors Inc. now owns 298 shares of the company’s stock valued at $37,000 after purchasing an additional 255 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Jacobs Solutions during the second quarter valued at approximately $40,000. Finally, Tcwp LLC bought a new stake in Jacobs Solutions in the first quarter valued at $47,000. 86.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on J. Credit Suisse Group increased their target price on Jacobs Solutions from $154.00 to $161.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup cut their target price on Jacobs Solutions from $155.00 to $151.00 and set a “buy” rating on the stock in a research note on Tuesday, August 2nd. StockNews.com started coverage on Jacobs Solutions in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada lowered their price target on Jacobs Solutions from $155.00 to $150.00 and set an “outperform” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

Jacobs Solutions Price Performance

Shares of J traded down $0.80 during midday trading on Thursday, hitting $122.70. The company’s stock had a trading volume of 422,329 shares, compared to its average volume of 583,490. Jacobs Solutions Inc. has a one year low of $106.78 and a one year high of $150.32. The company’s fifty day simple moving average is $116.23 and its two-hundred day simple moving average is $124.53. The company has a quick ratio of 1.43, a current ratio of 1.45 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $15.66 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 1.55 and a beta of 0.88.

Jacobs Solutions (NYSE:JGet Rating) last issued its quarterly earnings data on Monday, November 21st. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.03. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.85 billion. Jacobs Solutions had a return on equity of 14.76% and a net margin of 4.32%. Jacobs Solutions’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. As a group, equities analysts expect that Jacobs Solutions Inc. will post 7.41 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, September 30th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, September 29th. Jacobs Solutions’s payout ratio is presently 18.47%.

Insiders Place Their Bets

In other Jacobs Solutions news, CEO Steven J. Demetriou sold 51,130 shares of Jacobs Solutions stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $125.10, for a total transaction of $6,396,363.00. Following the transaction, the chief executive officer now directly owns 631,447 shares of the company’s stock, valued at approximately $78,994,019.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Jacobs Solutions Profile

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Jacobs Solutions Inc provides consulting, technical, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, rest of Asia, Australia, New Zealand, South America, Mexico, the Middle East, and Africa. It provides cybersecurity, data analytics, systems and software application integration and consulting, enterprise and mission IT, engineering and design, nuclear, enterprise level operations and maintenance, artificial intelligence and automation, software development, digitally driven consulting, planning and architecture, program management, and other technical consulting solutions.

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Institutional Ownership by Quarter for Jacobs Solutions (NYSE:J)

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