Jacobs Solutions Inc. (NYSE:J) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in shares of Jacobs Solutions Inc. (NYSE:J) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,140 shares of the company’s stock after selling 1,203 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Jacobs Solutions were worth $5,631,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heritage Family Offices LLP grew its stake in Jacobs Solutions by 55.7% in the 4th 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 period. Stratos Wealth Partners LTD. grew its stake in Jacobs Solutions by 1.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock valued at $1,305,000 after acquiring an additional 175 shares during the period. Occidental Asset Management LLC grew its stake in Jacobs Solutions by 11.7% in the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after acquiring an additional 2,619 shares during the period. JPMorgan Chase & Co. grew its stake in Jacobs Solutions by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock valued at $56,778,000 after acquiring an additional 47,211 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Jacobs Solutions in the 3rd quarter valued at $3,205,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Analyst Upgrades and Downgrades

J has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Robert W. Baird decreased their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 10th. Citigroup decreased their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Truist Financial raised their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Jacobs Solutions presently has an average rating of “Moderate Buy” and an average target price of $155.89.

Jacobs Solutions Stock Down 0.4 %

Shares of NYSE:J opened at $121.74 on Thursday. The business has a 50-day moving average price of $132.26 and a 200 day moving average price of $138.08. 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 company has a market capitalization of $14.92 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.93 billion during 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 company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $1.45 EPS. Sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost 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 has initiated a share buyback program on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.