Invesco Ltd. Sells 171,280 Shares of Jacobs Solutions Inc. (NYSE:J)

Invesco Ltd. decreased its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,038,712 shares of the company's stock after selling 171,280 shares during the period. Invesco Ltd. owned 1.66% of Jacobs Solutions worth $272,413,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in J. FMR LLC grew its position in shares of Jacobs Solutions by 3.9% in the third quarter. FMR LLC now owns 79,358 shares of the company's stock valued at $10,388,000 after purchasing an additional 3,011 shares during the last quarter. Quarry LP lifted its holdings in shares of Jacobs Solutions by 394.9% during the third quarter. Quarry LP now owns 292 shares of the company's stock worth $38,000 after buying an additional 233 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Jacobs Solutions by 23.0% in the third quarter. Stifel Financial Corp now owns 66,103 shares of the company's stock valued at $8,653,000 after acquiring an additional 12,353 shares during the period. Wellington Management Group LLP grew its stake in shares of Jacobs Solutions by 13.6% in the third quarter. Wellington Management Group LLP now owns 251,732 shares of the company's stock worth $32,952,000 after acquiring an additional 30,058 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its stake in Jacobs Solutions by 36.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,831 shares of the company's stock valued at $371,000 after purchasing an additional 756 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

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Jacobs Solutions Stock Performance

Shares of J stock traded up $0.12 on Wednesday, reaching $117.63. The stock had a trading volume of 101,342 shares, compared to its average volume of 895,395. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a 12 month low of $106.23 and a 12 month high of $150.54. The firm's 50-day moving average is $123.33 and its two-hundred day moving average is $133.01. The firm has a market capitalization of $14.41 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 1.84 and a beta of 0.73.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping analysts' consensus estimates 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%. Jacobs Solutions's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $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 of Directors has authorized a share repurchase program on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were issued a dividend of $0.32 per share. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.09%. Jacobs Solutions's dividend payout ratio (DPR) is presently 26.39%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on J shares. Truist Financial cut their price objective on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Citigroup decreased their price objective on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Robert W. Baird reduced their target price on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.14.

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.