Invesco Ltd. Lowers Position in Jacobs Solutions Inc. (NYSE:J)

Invesco Ltd. reduced its stake in Jacobs Solutions Inc. (NYSE:J) by 7.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,038,712 shares of the company’s stock after selling 171,280 shares during the period. Invesco Ltd.’s holdings in Jacobs Solutions were worth $272,413,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Ninety One UK Ltd increased its position in shares of Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock valued at $265,649,000 after acquiring an additional 449,161 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Jacobs Solutions by 15,913.6% during the 4th quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company’s stock worth $59,977,000 after purchasing an additional 446,057 shares during the period. Natixis Advisors LLC increased its holdings in Jacobs Solutions by 138.9% in the 4th quarter. Natixis Advisors LLC now owns 479,452 shares of the company’s stock valued at $64,065,000 after purchasing an additional 278,777 shares during the last quarter. National Bank of Canada FI raised its position in Jacobs Solutions by 956.8% in the fourth quarter. National Bank of Canada FI now owns 264,824 shares of the company’s stock valued at $35,386,000 after purchasing an additional 239,764 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Jacobs Solutions during the fourth quarter worth $24,069,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Trading Down 3.2 %

NYSE J opened at $114.74 on Friday. Jacobs Solutions Inc. has a 52 week low of $106.23 and a 52 week high of $156.31. The firm has a 50 day moving average of $124.30 and a two-hundred day moving average of $133.79. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $14.06 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, February 4th. The company reported $1.33 EPS 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 firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. Jacobs Solutions’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were paid 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 was Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.12%. Jacobs Solutions’s payout ratio is presently 26.39%.

Jacobs Solutions declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 4th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

J has been the subject of a number of research reports. Robert W. Baird dropped 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 dropped their target price on Jacobs Solutions from $141.00 to $130.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Citigroup reduced their price target on shares of 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 company’s stock. According to data from MarketBeat.com, Jacobs Solutions 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.