Prudential Financial Inc. Sells 10,323 Shares of Jacobs Solutions Inc. (NYSE:J)

Prudential Financial Inc. lowered its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 13.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,425 shares of the company’s stock after selling 10,323 shares during the quarter. Prudential Financial Inc. owned about 0.06% of Jacobs Solutions worth $9,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of J. Avalon Trust Co acquired a new position in Jacobs Solutions during the fourth quarter valued at approximately $33,000. Larson Financial Group LLC boosted its holdings in shares of Jacobs Solutions by 71.9% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock worth $37,000 after buying an additional 115 shares during the period. Quarry LP grew its stake in Jacobs Solutions by 394.9% in the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after buying an additional 233 shares during the last quarter. True Wealth Design LLC bought a new position in Jacobs Solutions in the 3rd quarter worth $44,000. Finally, Assetmark Inc. lifted its position in Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company’s stock worth $45,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.

Wall Street Analysts Forecast Growth

J has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird cut their price target on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Truist Financial upped their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, StockNews.com started coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $153.63.

Jacobs Solutions Stock Down 1.8 %

Shares of J opened at $121.25 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. The company has a 50-day moving average price of $129.38 and a two-hundred day moving average price of $135.98. The stock has a market cap of $14.86 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 12 month low of $118.71 and a 12 month high of $156.31.

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

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were given a $0.32 dividend. The ex-dividend date was Friday, February 21st. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 1.06%. Jacobs Solutions’s payout ratio is 26.39%.

Jacobs Solutions declared that its Board of Directors 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors 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.