Investment Management Corp of Ontario Sells 8,313 Shares of Jacobs Solutions Inc. (NYSE:J)

Investment Management Corp of Ontario trimmed its position in Jacobs Solutions Inc. (NYSE:J) by 30.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,743 shares of the company’s stock after selling 8,313 shares during the period. Investment Management Corp of Ontario’s holdings in Jacobs Solutions were worth $2,504,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of J. Barclays PLC boosted its position in Jacobs Solutions by 31.7% in the 3rd quarter. Barclays PLC now owns 312,700 shares of the company’s stock valued at $40,933,000 after buying an additional 75,318 shares during the last quarter. Principal Financial Group Inc. boosted its position in Jacobs Solutions by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 145,574 shares of the company’s stock valued at $19,056,000 after buying an additional 5,959 shares during the last quarter. Czech National Bank boosted its position in Jacobs Solutions by 5.6% in the 4th quarter. Czech National Bank now owns 26,940 shares of the company’s stock valued at $3,600,000 after buying an additional 1,433 shares during the last quarter. Fiduciary Alliance LLC bought a new position in Jacobs Solutions in the 4th quarter valued at $1,163,000. Finally, Tlwm boosted its position in shares of Jacobs Solutions by 2.8% in the 4th quarter. Tlwm now owns 6,120 shares of the company’s stock worth $818,000 after purchasing an additional 169 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on J. Robert W. Baird reduced their price target on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Citigroup reduced their price target on Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Royal Bank of Canada raised their price target on Jacobs Solutions from $152.00 to $154.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. UBS Group reduced their price target on Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Truist Financial lowered their target price on shares of Jacobs Solutions from $141.00 to $130.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.29.

Jacobs Solutions Stock Performance

J stock opened at $122.78 on Monday. The business’s 50-day moving average price is $120.47 and its two-hundred day moving average price is $130.74. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The firm has a market cap of $15.05 billion, a PE ratio of 25.32, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 1-year low of $106.23 and a 1-year high of $156.31.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.02. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.91 earnings per share. As a group, research analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions announced that its board has initiated a stock 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 reacquire up to 9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Jacobs Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.28 annualized dividend and a yield of 1.04%. Jacobs Solutions’s dividend payout ratio is presently 35.26%.

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.