Wharton Business Group LLC Sells 995 Shares of Jacobs Solutions Inc. (NYSE:J)

Wharton Business Group LLC decreased its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,300 shares of the company’s stock after selling 995 shares during the quarter. Wharton Business Group LLC owned 0.05% of Jacobs Solutions worth $8,592,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Raymond James & Associates boosted its holdings in shares of Jacobs Solutions by 23.2% in the third quarter. Raymond James & Associates now owns 134,789 shares of the company’s stock valued at $17,644,000 after purchasing an additional 25,354 shares during the period. Private Advisor Group LLC lifted its holdings in Jacobs Solutions by 9.9% during the third quarter. Private Advisor Group LLC now owns 13,447 shares of the company’s stock worth $1,760,000 after buying an additional 1,210 shares during the period. International Assets Investment Management LLC lifted its holdings in Jacobs Solutions by 12,990.4% during the third quarter. International Assets Investment Management LLC now owns 13,614 shares of the company’s stock worth $1,782,000 after buying an additional 13,510 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Jacobs Solutions by 9.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 7,765 shares of the company’s stock worth $1,016,000 after buying an additional 684 shares during the period. Finally, IFM Investors Pty Ltd lifted its holdings in Jacobs Solutions by 57.3% during the third quarter. IFM Investors Pty Ltd now owns 22,603 shares of the company’s stock worth $2,959,000 after buying an additional 8,230 shares during the period. Institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Down 0.8 %

Shares of J stock opened at $129.12 on Monday. The stock has a 50 day moving average of $134.83 and a 200 day moving average of $139.95. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock has a market cap of $15.82 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.84 and a beta of 0.72. Jacobs Solutions Inc. has a twelve month low of $110.95 and a twelve month high of $150.54.

Jacobs Solutions (NYSE:J) last announced its quarterly 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. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. Jacobs Solutions’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.45 earnings per share. As a group, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be given a dividend of $0.32 per share. 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 0.99%. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio (DPR) is currently 23.92%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on J shares. 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. Benchmark cut Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Truist Financial boosted their price target on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, Citigroup reduced their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $155.89.

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.