Prudential Financial Inc. Sells 10,323 Shares of Jacobs Solutions Inc. (NYSE:J)

Prudential Financial Inc. lowered its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 13.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 68,425 shares of the company's stock after selling 10,323 shares during the period. Prudential Financial Inc. owned 0.06% of Jacobs Solutions worth $9,143,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Heritage Family Offices LLP boosted its position in Jacobs Solutions by 55.7% during the 4th quarter. Heritage Family Offices LLP now owns 14,912 shares of the company's stock worth $1,993,000 after acquiring an additional 5,332 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Jacobs Solutions by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company's stock worth $1,305,000 after purchasing an additional 175 shares during the period. Occidental Asset Management LLC lifted its holdings in Jacobs Solutions by 11.7% in the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company's stock worth $3,347,000 after purchasing an additional 2,619 shares during the period. JPMorgan Chase & Co. grew its position in Jacobs Solutions by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company's stock valued at $56,778,000 after buying an additional 47,211 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Jacobs Solutions during the 3rd quarter valued at about $3,205,000. Institutional investors and hedge funds own 85.65% of the company's stock.

Analysts Set New Price Targets

J has been the subject of several recent analyst reports. Citigroup decreased their price objective 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $152.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Truist Financial raised their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a research report on Thursday, December 19th. Finally, StockNews.com started coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They issued a "hold" rating on the stock. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Jacobs Solutions currently has a consensus rating of "Hold" and a consensus price target of $153.63.

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Jacobs Solutions Stock Up 0.9 %

Jacobs Solutions stock traded up $1.13 during mid-day trading on Tuesday, hitting $122.02. The company's stock had a trading volume of 644,096 shares, compared to its average volume of 752,256. Jacobs Solutions Inc. has a 52-week low of $118.67 and a 52-week high of $156.31. The company has a market cap of $14.95 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. 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 firm's 50 day moving average is $129.02 and its 200 day moving average is $135.79.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during 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. The firm's revenue was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

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

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were given a dividend of $0.32 per share. 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. This represents a $1.28 dividend on an annualized basis and a yield of 1.05%. Jacobs Solutions's dividend payout ratio (DPR) is presently 26.39%.

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.