Sterling Capital Management LLC Sells 35,093 Shares of Jacobs Solutions Inc. (NYSE:J)

Sterling Capital Management LLC decreased its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 37.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,137 shares of the company's stock after selling 35,093 shares during the period. Sterling Capital Management LLC's holdings in Jacobs Solutions were worth $7,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in J. Orion Portfolio Solutions LLC lifted its stake in Jacobs Solutions by 0.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 11,006 shares of the company's stock worth $1,471,000 after purchasing an additional 83 shares during the last quarter. Evoke Wealth LLC lifted its stake in shares of Jacobs Solutions by 0.7% in the 4th quarter. Evoke Wealth LLC now owns 12,385 shares of the company's stock valued at $1,655,000 after acquiring an additional 88 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Jacobs Solutions by 10.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company's stock valued at $128,000 after acquiring an additional 92 shares during the period. Greenleaf Trust grew its position in Jacobs Solutions by 3.5% during the 4th quarter. Greenleaf Trust now owns 2,773 shares of the company's stock worth $371,000 after acquiring an additional 95 shares during the last quarter. Finally, Assetmark Inc. increased its stake in Jacobs Solutions by 42.7% in the 4th quarter. Assetmark Inc. now owns 334 shares of the company's stock worth $45,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 85.65% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on J. Citigroup cut their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Robert W. Baird cut their price target 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 lowered their price objective on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Jacobs Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $152.14.

Jacobs Solutions Stock Down 0.3 %

NYSE:J traded down $0.38 during mid-day trading on Tuesday, hitting $117.50. 487,940 shares of the company's stock were exchanged, compared to its average volume of 772,907. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $156.31. The business has a fifty day moving average price of $123.65 and a 200 day moving average price of $133.12. The company has a market cap of $14.40 billion, a PE ratio of 24.23, a P/E/G ratio of 1.84 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25.

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

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were issued 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 dividend yield of 1.09%. Jacobs Solutions's dividend payout ratio is presently 26.39%.

Jacobs Solutions declared that its board has authorized a stock buyback program on Tuesday, February 4th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

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.