Ameriprise Financial Inc. Has $42.57 Million Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Ameriprise Financial Inc. cut its position in shares of Jacobs Solutions Inc. (NYSE:J) by 22.9% during the 4th quarter, Holdings Channel reports. The firm owned 318,622 shares of the company’s stock after selling 94,380 shares during the quarter. Ameriprise Financial Inc.’s holdings in Jacobs Solutions were worth $42,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Barclays PLC grew its stake 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. grew its stake 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 grew its stake 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 acquired a new position in Jacobs Solutions in the 4th quarter valued at about $1,163,000. Finally, Tlwm grew its stake in Jacobs Solutions by 2.8% in the 4th quarter. Tlwm now owns 6,120 shares of the company’s stock valued at $818,000 after buying an additional 169 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Stock Performance

Shares of NYSE:J opened at $122.78 on Monday. The company’s 50 day moving average price is $120.47 and its two-hundred day moving average price is $130.74. Jacobs Solutions Inc. has a 12-month low of $106.23 and a 12-month high of $156.31. The firm has a market cap of $15.05 billion, a PE ratio of 25.32, a PEG ratio of 1.84 and a beta of 0.77. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

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

Jacobs Solutions Announces Dividend

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

Jacobs Solutions announced that its board has initiated 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 reacquire up to 9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

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.