Mariner LLC Sells 11,442 Shares of Jacobs Solutions Inc. (NYSE:J)

Mariner LLC decreased its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,143 shares of the company's stock after selling 11,442 shares during the period. Mariner LLC's holdings in Jacobs Solutions were worth $7,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Jacobs Solutions by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 3,155,839 shares of the company's stock worth $420,626,000 after acquiring an additional 10,174 shares during the period. Ninety One UK Ltd grew its stake in Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock worth $265,649,000 after purchasing an additional 449,161 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Jacobs Solutions by 9.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,809,207 shares of the company's stock worth $241,746,000 after purchasing an additional 157,086 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Jacobs Solutions by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company's stock valued at $119,724,000 after buying an additional 78,284 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Jacobs Solutions by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company's stock worth $103,941,000 after buying an additional 17,372 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on J. Citigroup lowered their price objective 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. Robert W. Baird dropped their price objective 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. Finally, Truist Financial cut their price objective on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $152.14.

Jacobs Solutions Stock Up 0.7 %

NYSE J traded up $0.78 during trading hours on Wednesday, hitting $119.17. The company's stock had a trading volume of 441,573 shares, compared to its average volume of 886,504. The company has a market capitalization of $14.60 billion, a PE ratio of 24.57, a price-to-earnings-growth 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. Jacobs Solutions Inc. has a 52 week low of $106.23 and a 52 week high of $150.54. The company's 50-day simple moving average is $121.79 and its two-hundred day simple moving average is $132.37.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.93 billion for 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%. Jacobs Solutions's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 earnings per share. Research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

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 issued a $0.32 dividend. The ex-dividend date of this dividend 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 is currently 26.39%.

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