Private Advisor Group LLC Trims Stock Position in Jacobs Solutions Inc. (NYSE:J)

Private Advisor Group LLC trimmed its stake in Jacobs Solutions Inc. (NYSE:J) by 11.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,954 shares of the company’s stock after selling 1,493 shares during the period. Private Advisor Group LLC’s holdings in Jacobs Solutions were worth $1,597,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of Jacobs Solutions by 44.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Quarry LP grew its holdings in shares of Jacobs Solutions by 394.9% in the third quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after purchasing an additional 233 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Jacobs Solutions in the third quarter valued at approximately $42,000. True Wealth Design LLC acquired a new position in shares of Jacobs Solutions in the third quarter valued at approximately $44,000. Finally, Catalyst Capital Advisors LLC grew its holdings in shares of Jacobs Solutions by 215.7% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company’s stock valued at $49,000 after purchasing an additional 248 shares in the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 10th. 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. Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Truist Financial upped their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $155.89.

Jacobs Solutions Price Performance

Jacobs Solutions stock opened at $126.36 on Thursday. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54. The stock has a market capitalization of $15.48 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.84 and a beta of 0.72. The firm’s 50-day moving average is $134.38 and its two-hundred day moving average is $139.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 EPS. Equities analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued a dividend of $0.32 per share. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is presently 26.39%.

Jacobs Solutions announced that its board has initiated a share repurchase plan on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.