Clifford Swan Investment Counsel LLC Sells 1,545 Shares of Jacobs Solutions Inc. (NYSE:J)

Clifford Swan Investment Counsel LLC reduced its holdings in Jacobs Solutions Inc. (NYSE:J) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,530 shares of the company’s stock after selling 1,545 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Jacobs Solutions were worth $7,554,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Jacobs Solutions by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock valued at $410,444,000 after buying an additional 73,566 shares in the last quarter. Ninety One UK Ltd increased its position in Jacobs Solutions by 29.2% in the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock valued at $265,649,000 after buying an additional 449,161 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in Jacobs Solutions by 3.2% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock valued at $143,263,000 after buying an additional 32,650 shares in the last quarter. Bank of New York Mellon Corp increased its position in Jacobs Solutions by 9.6% in the 4th quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock valued at $119,724,000 after buying an additional 78,284 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Jacobs Solutions by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 760,516 shares of the company’s stock worth $99,552,000 after acquiring an additional 14,405 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Robert W. Baird decreased their target price 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. StockNews.com assumed coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Citigroup decreased their target price 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. Royal Bank of Canada reissued an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Finally, Truist Financial boosted their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $155.89.

Jacobs Solutions Trading Up 1.3 %

NYSE J opened at $128.22 on Friday. The stock has a market capitalization of $15.71 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.84 and a beta of 0.72. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. The business’s fifty day moving average is $134.08 and its 200-day moving average is $139.42.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $2.93 billion for 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%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.45 EPS. Equities research 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 dividend on an annualized basis and a dividend yield of 1.00%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. Jacobs Solutions’s payout ratio is presently 26.39%.

Jacobs Solutions announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is 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.