Hartford Investment Management Co. Cuts Stake in Jacobs Solutions Inc. (NYSE:J)

Hartford Investment Management Co. cut its holdings in Jacobs Solutions Inc. (NYSE:J) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 7,679 shares of the company’s stock after selling 150 shares during the quarter. Hartford Investment Management Co.’s holdings in Jacobs Solutions were worth $1,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ninety One UK Ltd boosted its position in 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 purchasing an additional 449,161 shares in the last quarter. Sessa Capital IM L.P. bought a new stake in shares of Jacobs Solutions in the 3rd quarter valued at about $46,168,000. Soros Fund Management LLC grew its position in shares of Jacobs Solutions by 34.3% in the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock worth $65,569,000 after buying an additional 127,874 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Jacobs Solutions by 28.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock worth $70,296,000 after acquiring an additional 117,940 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Jacobs Solutions by 19.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company’s stock valued at $85,099,000 after acquiring an additional 107,849 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $152.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 3rd. StockNews.com assumed coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. Citigroup lowered 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. Truist Financial upped their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.89.

Jacobs Solutions Stock Down 1.2 %

NYSE:J opened at $128.81 on Friday. The firm has a market capitalization of $15.78 billion, a P/E ratio of 26.56, a PEG ratio of 1.88 and a beta of 0.72. The company’s fifty day moving average price is $135.65 and its 200-day moving average price is $140.57. Jacobs Solutions Inc. has a 1-year low of $110.95 and a 1-year high of $150.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.20.

Jacobs Solutions (NYSE:J) last released 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 business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business posted $1.45 EPS. The company’s revenue was up 4.4% on a year-over-year basis. As a group, equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is currently 23.92%.

Jacobs Solutions declared that its board has authorized a share repurchase plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to buy up to 9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board 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.