Legal & General Group Plc Sells 21,047 Shares of Jacobs Solutions Inc. (NYSE:J)

Legal & General Group Plc trimmed its holdings in Jacobs Solutions Inc. (NYSE:J) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 798,475 shares of the company’s stock after selling 21,047 shares during the period. Legal & General Group Plc owned 0.65% of Jacobs Solutions worth $106,692,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Orion Portfolio Solutions LLC raised its holdings in shares of Jacobs Solutions by 0.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 11,006 shares of the company’s stock worth $1,471,000 after buying an additional 83 shares in the last quarter. Evoke Wealth LLC boosted its stake in Jacobs Solutions by 0.7% in the fourth quarter. Evoke Wealth LLC now owns 12,385 shares of the company’s stock valued at $1,655,000 after buying an additional 88 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Jacobs Solutions by 10.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company’s stock valued at $128,000 after acquiring an additional 92 shares during the last quarter. Greenleaf Trust raised its stake in Jacobs Solutions by 3.5% during the fourth quarter. Greenleaf Trust now owns 2,773 shares of the company’s stock worth $371,000 after acquiring an additional 95 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Jacobs Solutions by 42.7% in the fourth quarter. Assetmark Inc. now owns 334 shares of the company’s stock worth $45,000 after acquiring an additional 100 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on J. Robert W. Baird decreased their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Citigroup cut their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Truist Financial lowered their target price on Jacobs Solutions from $141.00 to $130.00 and set a “hold” rating for the company in a report on Tuesday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.14.

Jacobs Solutions Price Performance

J opened at $114.74 on Friday. The firm has a market cap of $14.06 billion, a P/E ratio of 23.66, a PEG ratio of 1.84 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. Jacobs Solutions Inc. has a fifty-two week low of $106.23 and a fifty-two week high of $156.31. The firm has a 50-day moving average of $124.30 and a 200 day moving average of $133.79.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) 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 analyst estimates of $2.92 billion. During the same period in the previous year, the company posted $1.45 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. On average, research analysts expect 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 was paid on Friday, March 21st. Investors of record on Friday, February 21st were issued a dividend of $0.32 per share. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.12%. Jacobs Solutions’s dividend payout ratio is 26.39%.

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

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.