Invesco Ltd. Lowers Position in Jacobs Solutions Inc. (NYSE:J)

Invesco Ltd. trimmed its position in shares of Jacobs Solutions Inc. (NYSE:J) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,038,712 shares of the company’s stock after selling 171,280 shares during the quarter. Invesco Ltd. owned approximately 1.66% of Jacobs Solutions worth $272,413,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ninety One UK Ltd grew its holdings in Jacobs Solutions by 29.2% in the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock valued at $265,649,000 after purchasing an additional 449,161 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Jacobs Solutions by 15,913.6% during the 4th quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company’s stock valued at $59,977,000 after buying an additional 446,057 shares in the last quarter. Natixis Advisors LLC grew its stake in Jacobs Solutions by 138.9% in the 4th quarter. Natixis Advisors LLC now owns 479,452 shares of the company’s stock valued at $64,065,000 after acquiring an additional 278,777 shares during the period. National Bank of Canada FI increased its holdings in Jacobs Solutions by 956.8% in the 4th quarter. National Bank of Canada FI now owns 264,824 shares of the company’s stock worth $35,386,000 after acquiring an additional 239,764 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Jacobs Solutions during the fourth quarter worth $24,069,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

J has been the topic of several research analyst reports. Citigroup dropped their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Truist Financial lowered their price objective on Jacobs Solutions from $141.00 to $130.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, Robert W. Baird reduced their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.14.

Jacobs Solutions Trading Down 3.2 %

J opened at $114.74 on Friday. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73. The company’s 50 day simple moving average is $124.30 and its two-hundred day simple moving average is $133.79. Jacobs Solutions Inc. has a 1-year low of $106.23 and a 1-year high of $156.31. 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 announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.87% and a net margin of 4.28%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 earnings per share. Analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were issued a $0.32 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.12%. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is currently 26.39%.

Jacobs Solutions announced that its Board of Directors has initiated a share buyback program on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.