Marks Group Wealth Management Inc Sells 2,701 Shares of Jacobs Solutions Inc. (NYSE:J)

Marks Group Wealth Management Inc cut its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,373 shares of the company's stock after selling 2,701 shares during the quarter. Marks Group Wealth Management Inc's holdings in Jacobs Solutions were worth $8,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Jacobs Solutions by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the company's stock worth $53,000 after buying an additional 145 shares during the period. Exchange Traded Concepts LLC boosted its position in Jacobs Solutions by 219.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,707 shares of the company's stock worth $878,000 after buying an additional 4,608 shares during the period. CX Institutional boosted its position in Jacobs Solutions by 8.5% during the 3rd quarter. CX Institutional now owns 8,015 shares of the company's stock worth $1,049,000 after buying an additional 629 shares during the period. Creative Planning boosted its position in Jacobs Solutions by 1.0% during the 3rd quarter. Creative Planning now owns 32,079 shares of the company's stock worth $4,199,000 after buying an additional 327 shares during the period. Finally, Occidental Asset Management LLC boosted its position in Jacobs Solutions by 7.8% during the 3rd quarter. Occidental Asset Management LLC now owns 22,426 shares of the company's stock worth $2,936,000 after buying an additional 1,618 shares during the period. 85.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on J shares. Benchmark downgraded shares of Jacobs Solutions from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Truist Financial boosted their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a research report on Thursday, December 19th. StockNews.com started coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They issued a "hold" rating on the stock. 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 report on Wednesday, January 29th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $155.89.

Jacobs Solutions Trading Down 1.2 %

Shares of NYSE:J traded down $1.55 during mid-day trading on Friday, hitting $128.81. The company had a trading volume of 830,761 shares, compared to its average volume of 785,657. The firm has a fifty day moving average price of $135.47 and a 200 day moving average price of $140.45. The company has a market capitalization of $15.78 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.20. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54.

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

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, February 21st. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's payout ratio is 26.39%.

Jacobs Solutions announced that its Board of Directors has approved a share buyback plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is 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.