Prudential Financial Inc. Has $9.14 Million Holdings in Jacobs Solutions Inc. (NYSE:J)

Prudential Financial Inc. cut its stake in Jacobs Solutions Inc. (NYSE:J) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,425 shares of the company’s stock after selling 10,323 shares during the period. Prudential Financial Inc.’s holdings in Jacobs Solutions were worth $9,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in Jacobs Solutions by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock worth $410,444,000 after purchasing an additional 73,566 shares during the last quarter. Ninety One UK Ltd raised its position in shares of Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock worth $265,649,000 after acquiring an additional 449,161 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in shares of Jacobs Solutions by 3.2% during the third quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock valued at $143,263,000 after acquiring an additional 32,650 shares during the period. Bank of New York Mellon Corp boosted its holdings in Jacobs Solutions by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock valued at $119,724,000 after acquiring an additional 78,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Jacobs Solutions by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company’s stock worth $103,941,000 after purchasing an additional 17,372 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Stock Performance

Shares of J stock opened at $121.25 on Friday. 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 52 week low of $118.71 and a 52 week high of $156.31. The company’s 50 day moving average price is $129.38 and its two-hundred day moving average price is $135.98. The company has a market capitalization of $14.86 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted $1.45 earnings per share. On average, analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions declared that its board has authorized a share 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 usually an indication that the company’s management believes its shares are undervalued.

Jacobs Solutions Increases Dividend

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

Wall Street Analysts Forecast Growth

J has been the topic of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Robert W. Baird reduced their price objective 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. Citigroup lowered their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial increased their price target on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Six 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 “Hold” and a consensus price target of $153.63.

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.