Jacobs Solutions Inc. (NYSE:J) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in Jacobs Solutions Inc. (NYSE:J) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,809 shares of the company’s stock after selling 3,503 shares during the period. Hsbc Holdings PLC owned 0.17% of Jacobs Solutions worth $27,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Ninety One UK Ltd boosted its stake in Jacobs Solutions by 29.2% during the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock worth $265,649,000 after purchasing an additional 449,161 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Jacobs Solutions by 15,913.6% during the fourth quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company’s stock worth $59,977,000 after buying an additional 446,057 shares during the period. Natixis Advisors LLC grew its holdings in shares of Jacobs Solutions by 138.9% during the fourth quarter. Natixis Advisors LLC now owns 479,452 shares of the company’s stock worth $64,065,000 after buying an additional 278,777 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Jacobs Solutions by 956.8% during the fourth quarter. National Bank of Canada FI now owns 264,824 shares of the company’s stock worth $35,386,000 after buying an additional 239,764 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Jacobs Solutions by 43.9% in the 4th quarter. First Trust Advisors LP now owns 741,342 shares of the company’s stock valued at $99,058,000 after acquiring an additional 226,272 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Wall Street Analyst Weigh In

J has been the topic of several analyst reports. Truist Financial lowered their target price on 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 lowered their price objective on shares of Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Robert W. Baird cut their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $150.86.

Jacobs Solutions Stock Performance

Shares of J opened at $121.67 on Friday. 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 Inc. has a 52-week low of $106.23 and a 52-week high of $156.31. The company has a 50-day simple moving average of $121.30 and a 200-day simple moving average of $132.07. The company has a market capitalization of $14.91 billion, a PE ratio of 25.09, a P/E/G ratio of 1.84 and a beta of 0.73.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $1.45 earnings per share. Equities research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were issued a $0.32 dividend. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.05%. Jacobs Solutions’s dividend payout ratio is 26.39%.

Jacobs Solutions announced that its board has approved a stock repurchase program on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Jacobs Solutions Company Profile

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.