HighTower Advisors LLC Trims Position in Jacobs Solutions Inc. (NYSE:J)

HighTower Advisors LLC reduced its holdings in Jacobs Solutions Inc. (NYSE:J) by 6.4% during the 4th quarter, Holdings Channel reports. The fund owned 47,184 shares of the company’s stock after selling 3,207 shares during the period. HighTower Advisors LLC’s holdings in Jacobs Solutions were worth $6,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in J. Heritage Family Offices LLP raised its position in Jacobs Solutions by 55.7% during the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock valued at $1,993,000 after acquiring an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Jacobs Solutions by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock worth $1,305,000 after purchasing an additional 175 shares during the period. Occidental Asset Management LLC increased its holdings in shares of Jacobs Solutions by 11.7% during the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after purchasing an additional 2,619 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Jacobs Solutions by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock valued at $56,778,000 after purchasing an additional 47,211 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Jacobs Solutions during the third quarter worth $3,205,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Stock Down 0.1 %

Shares of J opened at $122.65 on Wednesday. The stock has a 50 day moving average price of $131.36 and a 200 day moving average price of $137.19. 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 stock has a market capitalization of $15.03 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.93 billion during 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%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.45 earnings per share. Equities research analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 4th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued 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 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s payout ratio is currently 26.39%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on J. Robert W. Baird decreased their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Citigroup cut their price target on 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 Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. Truist Financial boosted their price objective 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, Benchmark lowered Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.