Jacobs Solutions Inc. (NYSE:J) Stock Holdings Cut by Malaga Cove Capital LLC

Malaga Cove Capital LLC lowered its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,185 shares of the company’s stock after selling 821 shares during the quarter. Jacobs Solutions makes up 1.8% of Malaga Cove Capital LLC’s holdings, making the stock its 9th largest position. Malaga Cove Capital LLC’s holdings in Jacobs Solutions were worth $4,568,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of J. Heritage Family Offices LLP raised its holdings in shares of Jacobs Solutions by 55.7% during the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock valued at $1,993,000 after acquiring an additional 5,332 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Jacobs Solutions by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock valued at $1,305,000 after purchasing an additional 175 shares during the last quarter. Occidental Asset Management LLC increased its holdings in shares of Jacobs Solutions by 11.7% in the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after purchasing an additional 2,619 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Jacobs Solutions by 956.8% in the fourth quarter. National Bank of Canada FI now owns 264,824 shares of the company’s stock valued at $35,386,000 after purchasing an additional 239,764 shares during the last quarter. Finally, Keene & Associates Inc. acquired a new stake in shares of Jacobs Solutions in the fourth quarter valued at approximately $2,973,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

NYSE J opened at $127.15 on Wednesday. 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 business’s 50 day moving average is $120.61 and its two-hundred day moving average is $130.62. Jacobs Solutions Inc. has a 12-month low of $106.23 and a 12-month high of $156.31. The stock has a market capitalization of $15.28 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.84 and a beta of 0.77.

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

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

Jacobs Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, May 23rd. Jacobs Solutions’s dividend payout ratio (DPR) is 35.26%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Citigroup lowered their price objective on Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Royal Bank of Canada increased their price objective 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 lowered their price objective on Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Robert W. Baird lowered their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, Truist Financial raised their price target on Jacobs Solutions from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $150.86.

About Jacobs Solutions

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.