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

Malaga Cove Capital LLC lowered its stake in Jacobs Solutions Inc. (NYSE:J) by 2.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 34,185 shares of the company’s stock after selling 821 shares during the period. Jacobs Solutions makes up approximately 1.8% of Malaga Cove Capital LLC’s portfolio, making the stock its 9th largest position. Malaga Cove Capital LLC’s holdings in Jacobs Solutions were worth $4,568,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of J. Barclays PLC lifted its stake in shares of Jacobs Solutions by 31.7% during the 3rd quarter. Barclays PLC now owns 312,700 shares of the company’s stock worth $40,933,000 after purchasing an additional 75,318 shares during the period. Principal Financial Group Inc. increased its holdings 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 purchasing an additional 5,959 shares in the last quarter. Czech National Bank increased its holdings 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 purchasing an additional 1,433 shares in the last quarter. Fiduciary Alliance LLC acquired a new stake in Jacobs Solutions in the 4th quarter valued at $1,163,000. Finally, Tlwm increased its holdings 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 purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

Shares of J stock opened at $127.15 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $156.31. The company’s 50-day simple moving average is $120.61 and its 200-day simple moving average is $130.62. 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 issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.41 by $0.02. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the company posted $1.91 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions declared that its Board of Directors has initiated a share buyback program on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Jacobs Solutions Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on Jacobs Solutions from $152.00 to $154.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Truist Financial raised their target price on Jacobs Solutions from $130.00 to $141.00 and gave the company a “hold” rating in a research note on Monday. Robert W. Baird lowered their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. UBS Group lowered their target price on Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, Citigroup lowered their target price on Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Four 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 stock has a consensus rating of “Moderate Buy” and a consensus price target 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.