Sei Investments Co. Trims Holdings in Jacobs Solutions Inc. (NYSE:J)

Sei Investments Co. cut its stake in Jacobs Solutions Inc. (NYSE:J) by 0.7% in the fourth quarter, Holdings Channel reports. The fund owned 242,000 shares of the company’s stock after selling 1,716 shares during the period. Sei Investments Co.’s holdings in Jacobs Solutions were worth $32,336,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mizuho Securities USA LLC raised its position in shares of Jacobs Solutions by 45.0% during the 4th quarter. Mizuho Securities USA LLC now owns 11,776 shares of the company’s stock valued at $1,574,000 after buying an additional 3,657 shares during the period. Sciencast Management LP acquired a new stake in Jacobs Solutions during the fourth quarter worth $622,000. TD Private Client Wealth LLC raised its position in Jacobs Solutions by 12.5% in the fourth quarter. TD Private Client Wealth LLC now owns 6,274 shares of the company’s stock valued at $838,000 after purchasing an additional 696 shares during the period. iA Global Asset Management Inc. purchased a new stake in Jacobs Solutions in the fourth quarter valued at $1,274,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Jacobs Solutions in the 4th quarter valued at $10,025,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

NYSE:J opened at $123.52 on Wednesday. Jacobs Solutions Inc. has a 52 week low of $118.71 and a 52 week high of $156.31. The company has a fifty day simple moving average of $130.28 and a two-hundred day simple moving average of $136.37. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The company has a market cap of $15.14 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. The firm 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 revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 EPS. As a group, equities analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

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

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were issued a $0.32 dividend. 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 annualized dividend and a yield of 1.04%. Jacobs Solutions’s dividend payout ratio (DPR) is 26.39%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on J. Robert W. Baird reduced their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Citigroup reduced their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Truist Financial lifted their target price 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. StockNews.com started coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Six investment 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 “Hold” and an average target price of $153.63.

Jacobs Solutions 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.