Hartford Investment Management Co. Sells 150 Shares of Jacobs Solutions Inc. (NYSE:J)

Hartford Investment Management Co. trimmed its position in shares of Jacobs Solutions Inc. (NYSE:J) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,679 shares of the company’s stock after selling 150 shares during the period. Hartford Investment Management Co.’s holdings in Jacobs Solutions were worth $1,026,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Summit Trail Advisors LLC bought a new position in Jacobs Solutions in the 4th quarter worth approximately $416,000. Wingate Wealth Advisors Inc. bought a new position in shares of Jacobs Solutions during the fourth quarter worth $65,000. Savant Capital LLC grew its stake in Jacobs Solutions by 4.5% during the fourth quarter. Savant Capital LLC now owns 15,973 shares of the company’s stock valued at $2,134,000 after acquiring an additional 693 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in Jacobs Solutions by 8.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,944 shares of the company’s stock valued at $527,000 after acquiring an additional 294 shares during the last quarter. Finally, Vest Financial LLC lifted its stake in Jacobs Solutions by 78.8% in the 4th quarter. Vest Financial LLC now owns 18,088 shares of the company’s stock worth $2,417,000 after purchasing an additional 7,973 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

Shares of NYSE:J opened at $128.81 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.88 and a beta of 0.72. Jacobs Solutions Inc. has a 12 month low of $110.95 and a 12 month high of $150.54. The firm’s 50-day moving average is $135.65 and its 200 day moving average is $140.57.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, topping 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 period in the prior year, the business posted $1.45 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

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

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on J shares. Citigroup reduced their target price on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. StockNews.com initiated coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Truist Financial increased their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Robert W. Baird reduced their price target on shares of 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, The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Jacobs Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $155.89.

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.