Corient Private Wealth LLC Sells 7,537 Shares of Jacobs Solutions Inc. (NYSE:J)

Corient Private Wealth LLC cut its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 276,121 shares of the company's stock after selling 7,537 shares during the period. Corient Private Wealth LLC owned about 0.23% of Jacobs Solutions worth $36,895,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in J. First Horizon Advisors Inc. raised its position in shares of Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company's stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Avalon Trust Co bought a new position in Jacobs Solutions during the fourth quarter worth $33,000. Larson Financial Group LLC lifted its holdings in Jacobs Solutions by 71.9% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company's stock valued at $37,000 after buying an additional 115 shares during the period. Quarry LP boosted its position in Jacobs Solutions by 394.9% during the third quarter. Quarry LP now owns 292 shares of the company's stock valued at $38,000 after acquiring an additional 233 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in Jacobs Solutions during the 3rd quarter worth about $44,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on J. Citigroup cut their target price on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Robert W. Baird lowered their target price on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. StockNews.com began coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They issued a "hold" rating for the company. Finally, 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 report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Jacobs Solutions currently has an average rating of "Hold" and a consensus target price of $153.63.

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Jacobs Solutions Stock Down 0.5 %

Jacobs Solutions stock traded down $0.67 during midday trading on Friday, hitting $121.23. 2,533,639 shares of the stock were exchanged, compared to its average volume of 706,227. Jacobs Solutions Inc. has a 52-week low of $118.71 and a 52-week high of $156.31. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The business's 50-day moving average price is $130.96 and its 200-day moving average price is $137.00. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. Jacobs Solutions's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.45 earnings per share. On average, research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions declared that its board has approved a stock repurchase plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be given a dividend of $0.32 per share. The ex-dividend date is Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.06%. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's dividend payout ratio is presently 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.