Jacobs Solutions Inc. (NYSE:J) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 798,475 shares of the company's stock after selling 21,047 shares during the quarter. Legal & General Group Plc owned approximately 0.65% of Jacobs Solutions worth $106,692,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of J. Bank of Montreal Can increased its holdings in shares of Jacobs Solutions by 5.2% in the fourth quarter. Bank of Montreal Can now owns 598,825 shares of the company's stock valued at $80,015,000 after purchasing an additional 29,715 shares during the period. Cerity Partners LLC grew its position in Jacobs Solutions by 0.4% in the 4th quarter. Cerity Partners LLC now owns 81,981 shares of the company's stock valued at $10,918,000 after buying an additional 364 shares during the last quarter. Federated Hermes Inc. increased its stake in Jacobs Solutions by 7.6% in the 4th quarter. Federated Hermes Inc. now owns 58,324 shares of the company's stock valued at $7,793,000 after buying an additional 4,106 shares during the period. Envestnet Asset Management Inc. raised its position in Jacobs Solutions by 18.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 347,264 shares of the company's stock worth $46,401,000 after buying an additional 52,920 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Jacobs Solutions in the 4th quarter worth $2,204,000. Hedge funds and other institutional investors own 85.65% of the company's stock.

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Jacobs Solutions Price Performance

J traded up $0.12 during trading on Wednesday, reaching $117.63. 101,342 shares of the stock were exchanged, compared to its average volume of 770,275. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 1.84 and a beta of 0.73. Jacobs Solutions Inc. has a 1 year low of $106.23 and a 1 year high of $156.31. The business's 50 day moving average price is $123.33 and its two-hundred day moving average price is $133.01.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping 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 business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the firm earned $1.45 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

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 paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.09%. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions's dividend payout ratio (DPR) is 26.39%.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on J. Citigroup dropped their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Truist Financial cut their target price on Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, Robert W. Baird decreased their price target 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. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Jacobs Solutions has an average rating of "Moderate Buy" and a consensus 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.