Synovus Financial Corp Sells 3,580 Shares of Jacobs Solutions Inc. (NYSE:J)

Synovus Financial Corp lowered its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 70.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,537 shares of the company's stock after selling 3,580 shares during the period. Synovus Financial Corp's holdings in Jacobs Solutions were worth $205,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in J. Barclays PLC grew its holdings in shares of Jacobs Solutions by 31.7% during the third quarter. Barclays PLC now owns 312,700 shares of the company's stock valued at $40,933,000 after buying an additional 75,318 shares during the last quarter. Virtu Financial LLC boosted its stake in Jacobs Solutions by 151.2% during the 3rd quarter. Virtu Financial LLC now owns 4,675 shares of the company's stock valued at $612,000 after purchasing an additional 2,814 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in shares of Jacobs Solutions by 3.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 20,851 shares of the company's stock worth $2,729,000 after purchasing an additional 630 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Jacobs Solutions in the third quarter worth $3,205,000. Finally, Tidal Investments LLC raised its stake in shares of Jacobs Solutions by 3.5% in the third quarter. Tidal Investments LLC now owns 24,440 shares of the company's stock worth $3,199,000 after purchasing an additional 829 shares during the last quarter. Institutional investors own 85.65% of the company's stock.

Wall Street Analyst Weigh In

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

Jacobs Solutions Stock Performance

NYSE J traded up $0.76 during trading hours on Wednesday, hitting $119.15. 441,573 shares of the company's stock traded hands, compared to its average volume of 886,504. Jacobs Solutions Inc. has a 52 week low of $106.23 and a 52 week high of $150.54. The firm has a market capitalization of $14.60 billion, a P/E ratio of 24.57, a P/E/G ratio of 1.84 and a beta of 0.73. 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 business's fifty day moving average price is $121.79 and its two-hundred day moving average price is $132.37.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the firm posted $1.45 EPS. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions announced that its board has initiated a stock buyback program on Tuesday, February 4th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to purchase up to 9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were paid a $0.32 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 1.07%. This is an increase from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's dividend payout ratio (DPR) is 26.39%.

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.