Crown Wealth Group LLC Sells 729 Shares of Jacobs Solutions Inc. (NYSE:J)

Crown Wealth Group LLC trimmed its stake in Jacobs Solutions Inc. (NYSE:J) by 26.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,981 shares of the company’s stock after selling 729 shares during the period. Crown Wealth Group LLC’s holdings in Jacobs Solutions were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in J. Private Advisor Group LLC boosted its stake in Jacobs Solutions by 9.9% in the third quarter. Private Advisor Group LLC now owns 13,447 shares of the company’s stock valued at $1,760,000 after acquiring an additional 1,210 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Jacobs Solutions by 12,990.4% in the 3rd quarter. International Assets Investment Management LLC now owns 13,614 shares of the company’s stock worth $1,782,000 after purchasing an additional 13,510 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Jacobs Solutions by 67.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,686 shares of the company’s stock worth $744,000 after buying an additional 2,285 shares during the last quarter. Allworth Financial LP increased its position in Jacobs Solutions by 11.5% during the 3rd quarter. Allworth Financial LP now owns 4,339 shares of the company’s stock valued at $568,000 after buying an additional 447 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Jacobs Solutions by 41.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,488 shares of the company’s stock valued at $1,111,000 after buying an additional 2,473 shares in the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Royal Bank of Canada restated an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Robert W. Baird lowered 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 note on Wednesday, February 5th. StockNews.com started coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, Truist Financial lifted their price target on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.89.

Jacobs Solutions Stock Down 0.6 %

Shares of J opened at $126.36 on Thursday. The stock’s 50-day moving average price is $134.38 and its 200-day moving average price is $139.65. 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 capitalization of $15.48 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.84 and a beta of 0.72. Jacobs Solutions Inc. has a 52 week low of $110.95 and a 52 week high of $150.54.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 4.28% and a return on equity of 14.87%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.45 earnings per share. On average, sell-side analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.01%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is presently 26.39%.

Jacobs Solutions announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 4th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.