Corebridge Financial Inc. Has $3.93 Million Stock Position in Jacobs Solutions Inc. (NYSE:J)

Corebridge Financial Inc. lessened its stake in Jacobs Solutions Inc. (NYSE:J) by 5.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,413 shares of the company’s stock after selling 1,671 shares during the quarter. Corebridge Financial Inc.’s holdings in Jacobs Solutions were worth $3,930,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Heritage Family Offices LLP increased its holdings in shares of Jacobs Solutions by 55.7% during the 4th quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock worth $1,993,000 after acquiring an additional 5,332 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Jacobs Solutions by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock valued at $1,305,000 after purchasing an additional 175 shares during the last quarter. Occidental Asset Management LLC raised its position in shares of Jacobs Solutions by 11.7% in the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after purchasing an additional 2,619 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Jacobs Solutions by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock worth $56,778,000 after buying an additional 47,211 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Jacobs Solutions during the 3rd quarter worth about $3,205,000. 85.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

J has been the subject of several research reports. Robert W. Baird cut their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 3rd. StockNews.com started coverage on Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating for the company. Truist Financial upped their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Jacobs Solutions currently has a consensus rating of “Hold” and an average price target of $153.63.

Jacobs Solutions Price Performance

Jacobs Solutions stock opened at $121.25 on Monday. The stock has a 50-day moving average price of $129.38 and a two-hundred day moving average price of $135.94. Jacobs Solutions Inc. has a 12 month low of $118.71 and a 12 month high of $156.31. The company has a market capitalization of $14.86 billion, a PE ratio of 25.00, a P/E/G ratio of 1.84 and a beta of 0.77. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the company earned $1.45 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. Analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions declared that its Board of Directors has approved a stock buyback program on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were paid a $0.32 dividend. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 1.06%. Jacobs Solutions’s payout ratio is currently 26.39%.

Jacobs Solutions 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.