Korea Investment CORP Sells 62,872 Shares of Jacobs Solutions Inc. (NYSE:J)

Korea Investment CORP lessened its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 31.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,100 shares of the company's stock after selling 62,872 shares during the period. Korea Investment CORP owned approximately 0.11% of Jacobs Solutions worth $18,052,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in J. Evoke Wealth LLC boosted its holdings in shares of Jacobs Solutions by 0.7% in the fourth quarter. Evoke Wealth LLC now owns 12,385 shares of the company's stock worth $1,655,000 after buying an additional 88 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Jacobs Solutions by 10.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company's stock worth $128,000 after acquiring an additional 92 shares during the last quarter. Greenleaf Trust grew its position in shares of Jacobs Solutions by 3.5% during the 4th quarter. Greenleaf Trust now owns 2,773 shares of the company's stock valued at $371,000 after acquiring an additional 95 shares during the period. Assetmark Inc. increased its stake in shares of Jacobs Solutions by 42.7% in the 4th quarter. Assetmark Inc. now owns 334 shares of the company's stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC raised its holdings in Jacobs Solutions by 5.5% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 2,024 shares of the company's stock worth $270,000 after purchasing an additional 106 shares during the period. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

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Jacobs Solutions Price Performance

J traded up $1.13 during trading on Tuesday, hitting $122.02. 644,096 shares of the company traded hands, compared to its average volume of 752,256. The company has a market cap of $14.95 billion, a PE ratio of 25.16, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 1 year low of $118.67 and a 1 year high of $156.31. 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 stock's 50-day simple moving average is $129.02 and its two-hundred day simple moving average is $135.79.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.92 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The business's revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions declared that its Board of Directors has approved a share repurchase program on Tuesday, February 4th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were given a dividend of $0.32 per share. This is an increase from Jacobs Solutions's previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions's dividend payout ratio is currently 26.39%.

Analysts Set New Price Targets

A number of analysts have commented on J shares. Citigroup reduced their price target on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. StockNews.com initiated coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They issued a "hold" rating for the company. Robert W. Baird lowered their price target on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada reissued an "outperform" rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Finally, Truist Financial lifted their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Jacobs Solutions has a consensus rating of "Hold" and an average price target of $153.63.

Jacobs Solutions Company Profile

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.