Sumitomo Mitsui Trust Group Inc. Has $43.09 Million Stock Position in Jacobs Solutions Inc. (NYSE:J)

Sumitomo Mitsui Trust Group Inc. reduced its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,476 shares of the company's stock after selling 25,456 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Jacobs Solutions worth $43,089,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of J. First Horizon Advisors Inc. grew 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 buying an additional 74 shares in the last quarter. Quarry LP grew its position in shares of Jacobs Solutions by 394.9% during the third quarter. Quarry LP now owns 292 shares of the company's stock worth $38,000 after buying an additional 233 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Jacobs Solutions during the third quarter worth about $42,000. True Wealth Design LLC acquired a new position in shares of Jacobs Solutions during the third quarter worth about $44,000. Finally, GAMMA Investing LLC grew its position in shares of Jacobs Solutions by 55.8% during the third quarter. GAMMA Investing LLC now owns 405 shares of the company's stock worth $53,000 after buying an additional 145 shares in the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Jacobs Solutions Stock Performance

NYSE:J traded down $1.55 during midday trading on Friday, reaching $128.81. 830,761 shares of the company traded hands, compared to its average volume of 767,562. Jacobs Solutions Inc. has a twelve month low of $110.95 and a twelve month high of $150.54. The firm has a market capitalization of $15.78 billion, a price-to-earnings 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. The company has a fifty day moving average price of $135.65 and a 200 day moving average price of $140.57.

Jacobs Solutions (NYSE:J - Get Free Report) last announced 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 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 in the previous year, the firm posted $1.45 EPS. The firm's quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts expect that Jacobs Solutions Inc. will post 6.05 EPS 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. Stockholders of record on Friday, February 21st will be issued a $0.32 dividend. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. Jacobs Solutions's dividend payout ratio is 23.92%.

Jacobs Solutions announced that its Board of Directors has authorized 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 reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on J. The Goldman Sachs Group reiterated a "neutral" rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Royal Bank of Canada reiterated an "outperform" rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Robert W. Baird reduced their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Truist Financial boosted their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Finally, StockNews.com initiated coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They set a "hold" rating for the company. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.89.

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.