Jacobs Solutions Inc. (NYSE:J) Shares Sold by Wharton Business Group LLC

Wharton Business Group LLC cut its position in Jacobs Solutions Inc. (NYSE:J) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,300 shares of the company’s stock after selling 995 shares during the period. Wharton Business Group LLC’s holdings in Jacobs Solutions were worth $8,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Jacobs Solutions by 123.0% in the fourth quarter. IFP Advisors Inc now owns 1,715 shares of the company’s stock worth $229,000 after acquiring an additional 946 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Jacobs Solutions during the fourth quarter worth $1,229,000. Wealthspire Advisors LLC acquired a new position in Jacobs Solutions during the fourth quarter worth $210,000. TCW Group Inc. boosted its stake in Jacobs Solutions by 43.3% during the fourth quarter. TCW Group Inc. now owns 22,312 shares of the company’s stock worth $2,981,000 after buying an additional 6,743 shares during the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in Jacobs Solutions by 14.3% during the fourth quarter. Pinnacle Financial Partners Inc now owns 3,224 shares of the company’s stock worth $431,000 after buying an additional 403 shares during the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on J shares. StockNews.com started coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Truist Financial lifted their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Finally, Citigroup decreased their target price on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.89.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $129.12 on Monday. The stock’s 50-day moving average is $134.83 and its two-hundred day moving average is $139.95. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $15.82 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 1.84 and a beta of 0.72. Jacobs Solutions Inc. has a 1-year low of $110.95 and a 1-year high of $150.54.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 EPS. Analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The firm 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. The ex-dividend date is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is presently 23.92%.

Jacobs Solutions announced that its board has authorized a share repurchase program on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Jacobs Solutions 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.