Jacobs Solutions Inc. (NYSE:J) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its position in shares of Jacobs Solutions Inc. (NYSE:J) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,373 shares of the company’s stock after selling 2,701 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Jacobs Solutions were worth $8,201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake 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 purchasing an additional 74 shares in the last quarter. Quarry LP grew its stake in shares of Jacobs Solutions by 394.9% in the third quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after buying an additional 233 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Jacobs Solutions during the 3rd quarter valued at about $42,000. True Wealth Design LLC acquired a new position in Jacobs Solutions during the 3rd quarter worth approximately $44,000. Finally, GAMMA Investing LLC boosted its holdings in Jacobs Solutions by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock worth $53,000 after acquiring an additional 145 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on J shares. StockNews.com initiated coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Truist Financial lifted their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. The Goldman Sachs Group reissued a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Robert W. Baird dropped their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Benchmark cut Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Jacobs Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $155.89.

Jacobs Solutions Stock Down 0.9 %

NYSE:J opened at $133.21 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.20 and a current ratio of 1.25. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54. The stock has a 50-day simple moving average of $136.06 and a 200 day simple moving average of $140.80.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 EPS. Sell-side analysts predict 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 will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be paid a dividend of $0.32 per share. 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 yield of 0.96%. Jacobs Solutions’s payout ratio is presently 23.92%.

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

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.