Swiss National Bank Decreases Holdings in Jacobs Solutions Inc. (NYSE:J)

Swiss National Bank trimmed its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 351,000 shares of the company’s stock after selling 20,800 shares during the quarter. Swiss National Bank owned 0.29% of Jacobs Solutions worth $46,901,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in J. First Horizon Advisors Inc. grew its holdings in Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Larson Financial Group LLC grew its holdings 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 grew its holdings in Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after purchasing an additional 233 shares during the last quarter. True Wealth Design LLC bought a new position in Jacobs Solutions during the 3rd quarter valued at about $44,000. Finally, Assetmark Inc. grew its holdings in Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company’s stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Price Performance

Shares of J opened at $122.50 on Monday. The company has a 50 day moving average price of $131.75 and a 200-day moving average price of $137.58. Jacobs Solutions Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $150.54. The stock has a market capitalization of $15.01 billion, a PE ratio of 25.26, a PEG ratio of 1.84 and a beta of 0.77. 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 (NYSE:J) last posted its earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. Jacobs Solutions’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions announced that its board has approved a share buyback plan on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.04%. Jacobs Solutions’s dividend payout ratio is presently 26.39%.

Analyst Ratings Changes

J has been the topic of several analyst reports. Truist Financial upped their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Robert W. Baird dropped 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. StockNews.com initiated coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.