Corient Private Wealth LLC Decreases Holdings in Jacobs Solutions Inc. (NYSE:J)

Corient Private Wealth LLC lowered its stake in Jacobs Solutions Inc. (NYSE:J) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,121 shares of the company’s stock after selling 7,537 shares during the period. Corient Private Wealth LLC owned approximately 0.23% of Jacobs Solutions worth $36,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Jacobs Solutions by 2.4% during the third quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock valued at $410,444,000 after acquiring an additional 73,566 shares during the last quarter. Ninety One UK Ltd grew its holdings in Jacobs Solutions by 29.2% during the 4th 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 during the last quarter. Kovitz Investment Group Partners LLC raised its position in Jacobs Solutions by 3.2% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock worth $143,263,000 after purchasing an additional 32,650 shares during the period. Bank of New York Mellon Corp lifted its stake in Jacobs Solutions by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock worth $119,724,000 after purchasing an additional 78,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Jacobs Solutions by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company’s stock valued at $103,941,000 after buying an additional 17,372 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Trading Up 0.6 %

NYSE J opened at $122.80 on Tuesday. Jacobs Solutions Inc. has a one year low of $118.71 and a one year high of $156.31. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $15.05 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The company’s 50-day simple moving average is $131.55 and its two-hundred day simple moving average is $137.39.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. Jacobs Solutions’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $1.45 earnings per share. Equities analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions announced that its board has authorized a share repurchase plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be paid a dividend of $0.32 per share. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is 26.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on J shares. Robert W. Baird reduced their price target on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $152.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Citigroup lowered their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com started coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Jacobs Solutions has an average rating of “Hold” and an average price target of $153.63.

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.