Primecap Management Co. CA Has $682.38 Million Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Primecap Management Co. CA trimmed its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,106,852 shares of the company’s stock after selling 164,430 shares during the quarter. Primecap Management Co. CA owned approximately 4.17% of Jacobs Solutions worth $682,378,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased its position in Jacobs Solutions by 44.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Avalon Trust Co acquired a new position in Jacobs Solutions in the 4th quarter valued at approximately $33,000. Larson Financial Group LLC increased its position in Jacobs Solutions by 71.9% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock valued at $37,000 after acquiring an additional 115 shares during the period. Quarry LP increased its position 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 acquiring an additional 233 shares during the period. Finally, True Wealth Design LLC bought a new stake in shares of Jacobs Solutions in the 3rd quarter valued at $44,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Truist Financial upped their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, 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. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $153.63.

Jacobs Solutions Stock Up 0.6 %

Jacobs Solutions stock opened at $122.80 on Tuesday. Jacobs Solutions Inc. has a 1-year low of $118.71 and a 1-year high of $156.31. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The firm’s fifty day moving average price is $131.55 and its two-hundred day moving average price is $137.39. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data 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 net margin of 4.28% and a return on equity of 14.87%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the firm earned $1.45 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, 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 will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued a $0.32 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 1.04%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is currently 26.39%.

Jacobs Solutions announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Jacobs Solutions 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.