JPMorgan Chase & Co. Sells 136,548 Shares of Jacobs Solutions Inc. (NYSE:J)

JPMorgan Chase & Co. lowered its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 31.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 297,200 shares of the company's stock after selling 136,548 shares during the period. JPMorgan Chase & Co. owned about 0.24% of Jacobs Solutions worth $39,712,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of J. Avalon Trust Co acquired a new position in shares of Jacobs Solutions in the fourth quarter worth approximately $33,000. Larson Financial Group LLC lifted its position in shares of Jacobs Solutions by 71.9% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company's stock worth $37,000 after purchasing an additional 115 shares during the period. Quarry LP lifted its position in shares of Jacobs Solutions by 394.9% in the 3rd quarter. Quarry LP now owns 292 shares of the company's stock worth $38,000 after purchasing an additional 233 shares during the period. Assetmark Inc. boosted 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 valued at $45,000 after purchasing an additional 100 shares during the last quarter. Finally, Catalyst Capital Advisors LLC increased its position in shares of Jacobs Solutions by 215.7% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company's stock worth $49,000 after buying an additional 248 shares during the period. Institutional investors and hedge funds own 85.65% of the company's stock.

Jacobs Solutions Stock Up 1.3 %

J stock traded up $1.49 during trading on Friday, reaching $116.34. 914,223 shares of the stock were exchanged, compared to its average volume of 772,864. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a twelve month low of $106.23 and a twelve month high of $156.31. The firm's 50 day moving average is $123.95 and its 200 day moving average is $133.53. The firm has a market cap of $14.26 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73.

Remove Ads

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

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

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were issued a dividend of $0.32 per share. This is a boost 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 1.10%. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions's dividend payout ratio (DPR) is currently 26.39%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday. Robert W. Baird dropped their price objective on 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, Citigroup decreased their target price on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $152.14.

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.