HighTower Advisors LLC Has $6.31 Million Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

HighTower Advisors LLC lessened its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,184 shares of the company's stock after selling 3,207 shares during the period. HighTower Advisors LLC's holdings in Jacobs Solutions were worth $6,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in J. Ninety One UK Ltd raised its stake in Jacobs Solutions by 29.2% in the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock valued at $265,649,000 after acquiring an additional 449,161 shares during the period. Proficio Capital Partners LLC increased its position in Jacobs Solutions by 15,913.6% during the 4th quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company's stock worth $59,977,000 after buying an additional 446,057 shares during the period. Sessa Capital IM L.P. bought a new position in Jacobs Solutions during the 3rd quarter worth $46,168,000. Raymond James Financial Inc. bought a new position in Jacobs Solutions during the 4th quarter worth $24,069,000. Finally, Soros Fund Management LLC increased its position in Jacobs Solutions by 34.3% during the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company's stock worth $65,569,000 after buying an additional 127,874 shares during the period. Institutional investors own 85.65% of the company's stock.

Wall Street Analysts Forecast Growth

J has been the topic of several recent research reports. Citigroup lowered their price objective 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 reiterated an "outperform" rating and set a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Robert W. Baird lowered their price objective 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. Truist Financial increased their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $153.63.

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Jacobs Solutions Price Performance

NYSE:J traded down $0.67 during trading hours on Friday, hitting $121.23. The company's stock had a trading volume of 2,533,639 shares, compared to its average volume of 706,389. The stock has a fifty day simple moving average of $130.74 and a 200-day simple moving average of $136.79. The company has a market capitalization of $14.86 billion, a P/E ratio of 24.99, a PEG ratio of 1.84 and a beta of 0.77. 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 Inc. has a twelve month low of $118.71 and a twelve month high of $156.31.

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 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 return on equity of 14.87% and a net margin of 4.28%. Jacobs Solutions's revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. On average, analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions announced that its Board of Directors has approved a share buyback plan on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is 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. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.06%. Jacobs Solutions's dividend payout ratio (DPR) is 26.39%.

About Jacobs Solutions

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.