Intech Investment Management LLC Sells 11,696 Shares of Jacobs Solutions Inc. (NYSE:J)

Intech Investment Management LLC trimmed its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 37.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,549 shares of the company's stock after selling 11,696 shares during the quarter. Intech Investment Management LLC's holdings in Jacobs Solutions were worth $2,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of J. Ninety One UK Ltd raised its holdings in Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock worth $265,649,000 after buying an additional 449,161 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Jacobs Solutions by 15,913.6% in the 4th quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company's stock worth $59,977,000 after acquiring an additional 446,057 shares during the last quarter. Sessa Capital IM L.P. acquired a new position in Jacobs Solutions during the 3rd quarter valued at about $46,168,000. Natixis Advisors LLC increased its holdings in Jacobs Solutions by 138.9% during the 4th quarter. Natixis Advisors LLC now owns 479,452 shares of the company's stock worth $64,065,000 after purchasing an additional 278,777 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Jacobs Solutions in the fourth quarter worth approximately $24,069,000. 85.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup decreased their price target on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Truist Financial upped their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a research note on Thursday, December 19th. The Goldman Sachs Group reissued a "neutral" rating and set a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Finally, Robert W. Baird dropped their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. 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, the company currently has a consensus rating of "Hold" and an average price target of $153.63.

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Jacobs Solutions Stock Performance

Shares of NYSE:J traded up $1.72 during mid-day trading on Monday, reaching $122.97. The company had a trading volume of 1,301,010 shares, compared to its average volume of 709,890. Jacobs Solutions Inc. has a one year low of $118.71 and a one year high of $156.31. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The company's 50-day moving average price is $130.74 and its 200-day moving average price is $136.65. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $2.92 billion. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 EPS. As a group, equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.04%. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's payout ratio is currently 26.39%.

Jacobs Solutions announced that its board has authorized a stock repurchase plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.