Jacobs Solutions (NYSE:J) Shares Down 4.1% After Earnings Miss

Jacobs Solutions Inc. (NYSE:J) traded down 4.1% on Tuesday following a dissappointing earnings announcement. The stock traded as low as $133.85 and last traded at $134.64. 396,630 shares were traded during mid-day trading, a decline of 50% from the average session volume of 798,293 shares. The stock had previously closed at $140.35.

The company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.71). The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $4.50 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. Jacobs Solutions’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS.

Jacobs Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, October 25th. Jacobs Solutions’s dividend payout ratio is currently 22.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank of Canada lifted their price objective on Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Truist Financial lowered their price target on Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Robert W. Baird lowered their price target on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. StockNews.com started coverage on Jacobs Solutions in a research report on Monday. They set a “buy” rating for the company. Finally, Citigroup boosted their price target on Jacobs Solutions from $138.60 to $166.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.30.

Insiders Place Their Bets

In related news, Director Christopher M.T. Thompson sold 1,898 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $150.85, for a total value of $286,313.30. Following the transaction, the director now owns 42,069 shares in the company, valued at approximately $6,346,108.65. The trade was a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Shelette M. Gustafson sold 4,167 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $150.14, for a total value of $625,633.38. Following the completion of the transaction, the executive vice president now owns 24,564 shares in the company, valued at approximately $3,688,038.96. This trade represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Jacobs Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. raised its stake in Jacobs Solutions by 32.1% during the second quarter. Sei Investments Co. now owns 271,760 shares of the company’s stock valued at $37,968,000 after buying an additional 66,002 shares in the last quarter. UniSuper Management Pty Ltd grew its holdings in shares of Jacobs Solutions by 448.6% during the first quarter. UniSuper Management Pty Ltd now owns 7,801 shares of the company’s stock valued at $1,199,000 after purchasing an additional 6,379 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Jacobs Solutions during the third quarter valued at approximately $709,000. Asset Management One Co. Ltd. grew its holdings in shares of Jacobs Solutions by 6.8% during the third quarter. Asset Management One Co. Ltd. now owns 76,308 shares of the company’s stock valued at $9,989,000 after purchasing an additional 4,858 shares during the last quarter. Finally, MBB Public Markets I LLC bought a new position in shares of Jacobs Solutions during the second quarter valued at approximately $1,302,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Price Performance

The company has a market capitalization of $16.59 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. The company has a fifty day moving average price of $142.57 and a 200 day moving average price of $142.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14.

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.