Renaissance Technologies LLC Cuts Stake in Jacobs Solutions Inc. (NYSE:J)

Renaissance Technologies LLC cut its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 442,500 shares of the company's stock after selling 18,100 shares during the period. Renaissance Technologies LLC owned approximately 0.36% of Jacobs Solutions worth $59,127,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ninety One UK Ltd increased its position in shares of Jacobs Solutions by 29.2% in 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. Proficio Capital Partners LLC increased its holdings in shares of Jacobs Solutions by 15,913.6% during the fourth quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company's stock worth $59,977,000 after buying an additional 446,057 shares in the last quarter. Natixis Advisors LLC boosted its position in Jacobs Solutions by 138.9% during the 4th quarter. Natixis Advisors LLC now owns 479,452 shares of the company's stock worth $64,065,000 after buying an additional 278,777 shares during the period. National Bank of Canada FI grew its stake in shares of Jacobs Solutions by 956.8% in the fourth quarter. National Bank of Canada FI now owns 264,824 shares of the company's stock worth $35,386,000 after purchasing an additional 239,764 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Jacobs Solutions in the fourth quarter valued at $24,069,000. Institutional investors and hedge funds own 85.65% of the company's stock.

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Jacobs Solutions Stock Up 0.3 %

Shares of J traded up $0.34 during trading hours on Tuesday, reaching $118.22. The stock had a trading volume of 120,002 shares, compared to its average volume of 770,510. Jacobs Solutions Inc. has a 12 month low of $106.23 and a 12 month high of $156.31. The company has a market capitalization of $14.49 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 1.84 and a beta of 0.73. The firm has a 50-day simple moving average of $123.65 and a 200 day simple moving average of $133.12. 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 (NYSE:J - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share 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 analysts' expectations of $2.92 billion. During the same period last year, the business earned $1.45 EPS. The business's revenue was up 4.4% on a year-over-year basis. Equities research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 1.08%. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's dividend payout ratio (DPR) is currently 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 repurchase up to 9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

J has been the topic of several analyst reports. Truist Financial reduced their target price on Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Robert W. Baird lowered their price objective on 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, Citigroup cut their target price on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $152.14.

Jacobs Solutions Company 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.