AlphaQuest LLC Sells 23,457 Shares of Jacobs Solutions Inc. (NYSE:J)

AlphaQuest LLC decreased its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 94.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,391 shares of the company's stock after selling 23,457 shares during the period. AlphaQuest LLC's holdings in Jacobs Solutions were worth $186,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in J. First Horizon Advisors Inc. increased its position in Jacobs Solutions by 44.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company's stock valued at $32,000 after buying an additional 74 shares in the last quarter. Empirical Finance LLC lifted its holdings in shares of Jacobs Solutions by 1.9% in the third quarter. Empirical Finance LLC now owns 4,358 shares of the company's stock worth $570,000 after buying an additional 82 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in Jacobs Solutions by 4.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company's stock worth $293,000 after acquiring an additional 86 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Jacobs Solutions by 10.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company's stock worth $128,000 after purchasing an additional 92 shares during the period. Finally, Greenleaf Trust increased its stake in Jacobs Solutions by 3.5% in the 4th quarter. Greenleaf Trust now owns 2,773 shares of the company's stock worth $371,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 85.65% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts recently issued reports on J shares. Citigroup cut their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Royal Bank of Canada reissued an "outperform" rating and set a $152.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Truist Financial upped their target price on 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 note on Tuesday, December 10th. Finally, Benchmark cut shares of Jacobs Solutions from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $153.63.

Jacobs Solutions Trading Down 2.0 %

Jacobs Solutions stock traded down $2.50 during mid-day trading on Thursday, reaching $121.75. 1,222,909 shares of the company traded hands, compared to its average volume of 698,241. 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 52-week low of $118.71 and a 52-week high of $156.31. The firm has a market capitalization of $14.92 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 1.84 and a beta of 0.77. The firm's 50 day moving average price is $131.19 and its 200 day moving average price is $137.10.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly 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. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter in the previous year, the company earned $1.45 earnings per share. Jacobs Solutions's quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be given a $0.32 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 1.05%. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's dividend payout ratio is currently 26.39%.

Jacobs Solutions announced that its Board of Directors has approved a share buyback plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management 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.