Legato Capital Management LLC Decreases Stake in Jacobs Solutions Inc. (NYSE:J)

Legato Capital Management LLC decreased its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 33.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,180 shares of the company’s stock after selling 5,743 shares during the quarter. Legato Capital Management LLC’s holdings in Jacobs Solutions were worth $1,494,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of J. Ninety One UK Ltd lifted 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 worth $265,649,000 after buying an additional 449,161 shares in the last quarter. Sessa Capital IM L.P. acquired a new stake in shares of Jacobs Solutions in the 3rd quarter worth $46,168,000. Soros Fund Management LLC raised its holdings in shares of Jacobs Solutions by 34.3% during the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock worth $65,569,000 after acquiring an additional 127,874 shares during the period. Thrivent Financial for Lutherans boosted its position 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 valued at $70,296,000 after acquiring an additional 117,940 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Jacobs Solutions by 19.9% in 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 purchasing an additional 107,849 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Price Performance

J stock opened at $130.19 on Thursday. The business’s fifty day moving average price is $135.96 and its 200 day moving average price is $140.71. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $15.95 billion, a PE ratio of 26.84, a P/E/G ratio of 1.88 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last issued its quarterly 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 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%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 earnings per share. On average, sell-side 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. Stockholders of record on Friday, February 21st will be given a dividend of $0.32 per share. The ex-dividend date is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. 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 announced that its board has initiated a share repurchase plan on Tuesday, February 4th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on J shares. Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. StockNews.com assumed coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, Citigroup decreased their price target 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $155.89.

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.