Primecap Management Co. CA Reduces Stock Position in Jacobs Solutions Inc. (NYSE:J)

Primecap Management Co. CA lessened its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,106,852 shares of the company's stock after selling 164,430 shares during the quarter. Primecap Management Co. CA owned about 4.17% of Jacobs Solutions worth $682,378,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in J. First Horizon Advisors Inc. increased its position in shares of Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company's stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Avalon Trust Co acquired a new position in Jacobs Solutions during the 4th quarter valued at about $33,000. Larson Financial Group LLC increased its holdings in Jacobs Solutions by 71.9% during 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 in the last quarter. Quarry LP raised its stake in shares of Jacobs Solutions by 394.9% in the third quarter. Quarry LP now owns 292 shares of the company's stock worth $38,000 after purchasing an additional 233 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in shares of Jacobs Solutions in the third quarter valued at approximately $44,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Stock Performance

J traded down $0.67 during midday trading on Friday, reaching $121.23. The company had a trading volume of 2,533,639 shares, compared to its average volume of 706,227. Jacobs Solutions Inc. has a 12-month low of $118.71 and a 12-month high of $156.31. The business has a 50-day moving average price of $130.96 and a two-hundred day moving average price of $137.00. The stock has a market cap of $14.86 billion, a PE ratio of 24.99, a P/E/G ratio of 1.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25.

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Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating 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 business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the business earned $1.45 earnings per share. Jacobs Solutions's revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.06%. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's dividend payout ratio (DPR) is 26.39%.

Jacobs Solutions announced that its board has approved a stock buyback plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Citigroup lowered their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. The Goldman Sachs Group restated a "neutral" rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Robert W. Baird reduced their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Finally, StockNews.com assumed coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a "hold" rating on the stock. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $153.63.

Jacobs Solutions 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.