Primecap Management Co. CA Decreases Holdings in Jacobs Solutions Inc. (NYSE:J)

Primecap Management Co. CA lessened its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,106,852 shares of the company’s stock after selling 164,430 shares during the quarter. Primecap Management Co. CA’s holdings in Jacobs Solutions were worth $682,378,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in J. Victory Capital Management Inc. increased its stake in shares of Jacobs Solutions by 1.0% in the third quarter. Victory Capital Management Inc. now owns 212,150 shares of the company’s stock worth $27,770,000 after purchasing an additional 2,031 shares in the last quarter. KBC Group NV increased its stake in shares of Jacobs Solutions by 4.5% in the third quarter. KBC Group NV now owns 12,836 shares of the company’s stock worth $1,680,000 after purchasing an additional 547 shares in the last quarter. Metis Global Partners LLC increased its stake in shares of Jacobs Solutions by 83.6% in the third quarter. Metis Global Partners LLC now owns 7,246 shares of the company’s stock worth $949,000 after purchasing an additional 3,299 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Jacobs Solutions by 4.0% in the third quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock worth $293,000 after purchasing an additional 86 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Jacobs Solutions by 8.1% in the third quarter. CIBC Asset Management Inc now owns 18,217 shares of the company’s stock worth $2,385,000 after purchasing an additional 1,360 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Trading Up 0.6 %

Shares of Jacobs Solutions stock opened at $122.80 on Tuesday. The firm has a market cap of $15.05 billion, a PE ratio of 25.32, a PEG ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 1 year low of $118.71 and a 1 year high of $156.31. The company has a 50 day simple moving average of $131.55 and a two-hundred day simple moving average of $137.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25.

Jacobs Solutions (NYSE:J) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. Analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

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

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 1.04%. Jacobs Solutions’s dividend payout ratio (DPR) is 26.39%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on J shares. Robert W. Baird cut their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Truist Financial raised their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Finally, Citigroup cut their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. 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 presently has a consensus rating of “Hold” and a consensus 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.