Jacobs Solutions Inc. (NYSE:J) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 262,787 shares of the company's stock after selling 9,275 shares during the quarter. Wells Fargo & Company MN owned about 0.21% of Jacobs Solutions worth $35,114,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of J. Avalon Trust Co purchased a new position in shares of Jacobs Solutions in the 4th quarter worth about $33,000. Larson Financial Group LLC grew its stake in Jacobs Solutions by 71.9% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company's stock worth $37,000 after buying an additional 115 shares during the period. Quarry LP boosted its position in Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company's stock worth $38,000 after purchasing an additional 233 shares during the period. Assetmark Inc. raised its position in Jacobs Solutions by 42.7% in the fourth quarter. Assetmark Inc. now owns 334 shares of the company's stock valued at $45,000 after purchasing an additional 100 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its position in shares of Jacobs Solutions by 215.7% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company's stock worth $49,000 after buying an additional 248 shares during the period. Hedge funds and other institutional investors own 85.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup reduced their price target on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Robert W. Baird dropped their price target on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Finally, Truist Financial reduced their price objective on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Five 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.14.

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Jacobs Solutions Stock Performance

NYSE J traded up $0.23 during trading hours on Wednesday, reaching $117.74. The company's stock had a trading volume of 89,392 shares, compared to its average volume of 895,177. The stock has a market cap of $14.43 billion, a PE ratio of 24.29, a PEG ratio of 1.84 and a beta of 0.73. The business has a 50-day simple moving average of $123.33 and a 200 day simple moving average of $133.01. Jacobs Solutions Inc. has a 52 week low of $106.23 and a 52 week high of $150.54. 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 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.04. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.45 EPS. Equities research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

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

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 $0.32 dividend. 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 annualized dividend and a yield of 1.09%. Jacobs Solutions's dividend payout ratio is 26.39%.

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.