abrdn plc Sells 7,785 Shares of Jacobs Solutions Inc. (NYSE:J)

abrdn plc reduced its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,365 shares of the company's stock after selling 7,785 shares during the quarter. abrdn plc's holdings in Jacobs Solutions were worth $7,641,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Heritage Family Offices LLP raised its holdings in Jacobs Solutions by 55.7% in the 4th quarter. Heritage Family Offices LLP now owns 14,912 shares of the company's stock valued at $1,993,000 after acquiring an additional 5,332 shares during the period. Occidental Asset Management LLC increased its holdings in shares of Jacobs Solutions by 11.7% during the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company's stock worth $3,347,000 after purchasing an additional 2,619 shares during the period. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 47,211 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Jacobs Solutions during the third quarter worth approximately $3,205,000. Finally, Merit Financial Group LLC bought a new position in shares of Jacobs Solutions during the fourth quarter worth approximately $368,000. 85.65% of the stock is owned by institutional investors.

Jacobs Solutions Stock Down 2.3 %

Shares of NYSE J traded down $3.03 during trading on Wednesday, hitting $130.19. 622,871 shares of the company traded hands, compared to its average volume of 764,863. The business's fifty day moving average is $135.96 and its 200 day moving average is $140.71. Jacobs Solutions Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $150.54. The firm has a market capitalization of $15.95 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 1.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.20 and a current ratio of 1.25.

Jacobs Solutions (NYSE:J - Get Free Report) last announced 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. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the business earned $1.45 earnings per share. The business's quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions announced that its board has authorized a share buyback program on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's dividend payout ratio is currently 23.92%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on J. Citigroup lowered their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Truist Financial boosted 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. StockNews.com initiated coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They set a "hold" rating on the stock. Robert W. Baird reduced their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Finally, Benchmark cut shares of Jacobs Solutions from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Jacobs Solutions currently has an average rating of "Moderate Buy" and an average price target of $155.89.

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.