Intech Investment Management LLC Has $2.61 Million Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Intech Investment Management LLC lessened its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 37.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,549 shares of the company’s stock after selling 11,696 shares during the quarter. Intech Investment Management LLC’s holdings in Jacobs Solutions were worth $2,612,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Evoke Wealth LLC boosted its holdings in Jacobs Solutions by 0.7% in the 4th quarter. Evoke Wealth LLC now owns 12,385 shares of the company’s stock valued at $1,655,000 after purchasing an additional 88 shares during the period. Signaturefd LLC boosted its holdings in Jacobs Solutions by 14.2% in the 4th quarter. Signaturefd LLC now owns 1,157 shares of the company’s stock valued at $155,000 after purchasing an additional 144 shares during the period. Cibc World Markets Corp boosted its holdings in Jacobs Solutions by 15.2% in the 4th quarter. Cibc World Markets Corp now owns 19,602 shares of the company’s stock valued at $2,619,000 after purchasing an additional 2,588 shares during the period. Clayton Partners LLC boosted its holdings in Jacobs Solutions by 13.6% in the 4th quarter. Clayton Partners LLC now owns 30,167 shares of the company’s stock valued at $4,031,000 after purchasing an additional 3,622 shares during the period. Finally, Gitterman Wealth Management LLC boosted its holdings in Jacobs Solutions by 14.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 2,888 shares of the company’s stock valued at $386,000 after purchasing an additional 356 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Price Performance

J stock opened at $124.33 on Thursday. The company has a 50 day simple moving average of $131.19 and a 200 day simple moving average of $137.10. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 25.63, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 1 year low of $118.71 and a 1 year high of $156.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25.

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 analysts’ consensus estimates 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 firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 EPS. Research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to purchase up to 9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The firm also recently declared 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 is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is 26.39%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on J shares. Robert W. Baird cut their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Benchmark cut shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Citigroup dropped 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 report on Wednesday, January 29th. StockNews.com assumed coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, Truist Financial boosted their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.