Williams Jones Wealth Management LLC. Sells 5,711 Shares of Jacobs Solutions Inc. (NYSE:J)

Williams Jones Wealth Management LLC. cut its position in Jacobs Solutions Inc. (NYSE:J) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,092 shares of the company’s stock after selling 5,711 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Jacobs Solutions were worth $29,141,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in J. Barclays PLC grew its stake in shares of Jacobs Solutions by 31.7% in the third 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 last quarter. Assenagon Asset Management S.A. lifted its holdings in Jacobs Solutions by 5.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,002 shares of the company’s stock worth $802,000 after buying an additional 316 shares during the period. Park Avenue Securities LLC grew its position in shares of Jacobs Solutions by 2.9% in the 4th quarter. Park Avenue Securities LLC now owns 5,691 shares of the company’s stock valued at $760,000 after buying an additional 160 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Jacobs Solutions in the 4th quarter valued at about $368,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in shares of Jacobs Solutions in the fourth quarter valued at about $278,000. 85.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on J shares. Truist Financial lifted their price objective on Jacobs Solutions from $130.00 to $141.00 and gave the stock a “hold” rating in a research note on Monday, May 12th. UBS Group dropped 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 report on Friday, May 9th. Citigroup decreased their price objective on shares of Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Robert W. Baird dropped their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Finally, Royal Bank of Canada increased their price target on Jacobs Solutions from $152.00 to $154.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.86.

Jacobs Solutions Stock Down 0.3%

Shares of NYSE J opened at $128.78 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The firm has a market cap of $15.47 billion, a PE ratio of 26.55, a P/E/G ratio of 1.84 and a beta of 0.77. The company’s fifty day simple moving average is $121.02 and its 200 day simple moving average is $130.19. Jacobs Solutions Inc. has a 12-month low of $106.23 and a 12-month high of $156.31.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, beating 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 net margin of 4.28% and a return on equity of 14.87%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.91 earnings per share. As a group, sell-side analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.28 annualized dividend and a yield of 0.99%. Jacobs Solutions’s payout ratio is currently 35.26%.

Jacobs Solutions announced that its board has initiated a stock repurchase plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is 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.