Sei Investments Co. Decreases Position in Jacobs Solutions Inc. (NYSE:J)

Sei Investments Co. reduced its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,000 shares of the company’s stock after selling 1,716 shares during the period. Sei Investments Co. owned approximately 0.20% of Jacobs Solutions worth $32,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in shares of Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after buying an additional 74 shares during the last quarter. Avalon Trust Co acquired a new stake in Jacobs Solutions during the 4th quarter worth about $33,000. Larson Financial Group LLC grew its stake in Jacobs Solutions by 71.9% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock valued at $37,000 after purchasing an additional 115 shares during the last quarter. Quarry LP increased its holdings in shares of Jacobs Solutions by 394.9% in the third quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after purchasing an additional 233 shares during the period. Finally, True Wealth Design LLC acquired a new position in shares of Jacobs Solutions in the third quarter valued at about $44,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Performance

NYSE J opened at $123.52 on Wednesday. The stock has a market capitalization of $15.14 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 1.84 and a beta of 0.77. The stock has a 50-day moving average of $130.28 and a 200 day moving average of $136.37. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a twelve month low of $118.71 and a twelve month high of $156.31.

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

Jacobs Solutions announced that its board has initiated a stock buyback program on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Jacobs Solutions Increases Dividend

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

Analyst Ratings Changes

J has been the topic of a number of recent research reports. Truist Financial upped 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. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 10th. Citigroup cut their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com began coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Finally, 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. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Jacobs Solutions presently has a consensus rating of “Hold” and a consensus 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.