Prentice Wealth Management LLC Sells 313 Shares of Jacobs Solutions Inc. (NYSE:J)

Prentice Wealth Management LLC trimmed its position in Jacobs Solutions Inc. (NYSE:J) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,245 shares of the company’s stock after selling 313 shares during the quarter. Prentice Wealth Management LLC’s holdings in Jacobs Solutions were worth $434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its stake in shares of Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Empirical Finance LLC lifted its holdings in Jacobs Solutions by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 4,358 shares of the company’s stock worth $570,000 after purchasing an additional 82 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in Jacobs Solutions by 4.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock worth $293,000 after purchasing an additional 86 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Jacobs Solutions by 10.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company’s stock valued at $128,000 after buying an additional 92 shares in the last quarter. Finally, Greenleaf Trust raised its position in shares of Jacobs Solutions by 3.5% during the fourth quarter. Greenleaf Trust now owns 2,773 shares of the company’s stock valued at $371,000 after buying an additional 95 shares during the last quarter. Institutional investors own 85.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. 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. The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $152.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Robert W. Baird decreased their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Benchmark cut Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.89.

Jacobs Solutions Trading Down 0.8 %

Shares of NYSE J opened at $129.12 on Friday. Jacobs Solutions Inc. has a 1-year low of $110.95 and a 1-year high of $150.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. The business’s 50 day moving average is $134.83 and its two-hundred day moving average is $139.96. The stock has a market capitalization of $15.82 billion, a P/E ratio of 26.62, a PEG ratio of 1.84 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the company posted $1.45 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

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

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be paid a $0.32 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is currently 23.92%.

About Jacobs Solutions

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.