Legato Capital Management LLC Sells 5,743 Shares of Jacobs Solutions Inc. (NYSE:J)

Legato Capital Management LLC trimmed its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 33.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,180 shares of the company's stock after selling 5,743 shares during the period. Legato Capital Management LLC's holdings in Jacobs Solutions were worth $1,494,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in shares of 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 acquiring an additional 74 shares during the last quarter. Quarry LP boosted its position in Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company's stock valued at $38,000 after purchasing an additional 233 shares during the period. Capital Performance Advisors LLP acquired a new position in Jacobs Solutions during the 3rd quarter worth $42,000. True Wealth Design LLC acquired a new position in Jacobs Solutions during the 3rd quarter worth $44,000. Finally, GAMMA Investing LLC boosted its position in Jacobs Solutions by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the company's stock worth $53,000 after acquiring an additional 145 shares during the period. 85.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on J. Citigroup cut their price objective on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 10th. StockNews.com started coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They set a "hold" rating on the stock. Truist Financial boosted their target price 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, Benchmark lowered Jacobs Solutions from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $155.89.

Jacobs Solutions Trading Down 1.2 %

Shares of Jacobs Solutions stock traded down $1.55 during trading on Friday, reaching $128.81. 830,761 shares of the company were exchanged, compared to its average volume of 785,657. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a twelve month low of $110.95 and a twelve month high of $150.54. The business has a 50-day moving average price of $135.47 and a 200-day moving average price of $140.41. The firm has a market capitalization of $15.78 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 1.88 and a beta of 0.72.

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

Jacobs Solutions Increases Dividend

The business 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 dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.99%. The ex-dividend date 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 presently 23.92%.

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