Canada Pension Plan Investment Board Sells 98,535 Shares of Jacobs Solutions Inc. (NYSE:J)

Canada Pension Plan Investment Board decreased its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 52.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,497 shares of the company's stock after selling 98,535 shares during the period. Canada Pension Plan Investment Board owned approximately 0.07% of Jacobs Solutions worth $11,959,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Heritage Family Offices LLP boosted its position 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 purchasing an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in Jacobs Solutions by 1.8% during the 4th 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 in the last quarter. Occidental Asset Management LLC lifted its stake 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 buying an additional 2,619 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Jacobs Solutions by 12.2% during the third quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company's stock worth $56,778,000 after acquiring an additional 47,211 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Jacobs Solutions in the 3rd quarter worth about $3,205,000. Institutional investors own 85.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on J shares. Citigroup decreased their price target on Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating for the company in a report on Friday. Robert W. Baird decreased 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 note on Wednesday, February 5th. Finally, Truist Financial cut their target price on Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $150.86.

Jacobs Solutions Stock Performance

Shares of J traded down $0.66 during trading hours on Friday, hitting $121.67. The company's stock had a trading volume of 527,033 shares, compared to its average volume of 779,929. The business has a 50 day simple moving average of $121.47 and a two-hundred day simple moving average of $132.17. Jacobs Solutions Inc. has a 52-week low of $106.23 and a 52-week high of $156.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $14.91 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.84 and a beta of 0.73.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.04. The business had revenue of $2.93 billion during 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%. Jacobs Solutions's revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 EPS. On average, equities analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were issued a dividend of $0.32 per share. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.05%. Jacobs Solutions's dividend payout ratio is 26.39%.

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.