LPL Financial LLC Lowers Stock Position in Jacobs Solutions Inc. (NYSE:J)

Posted by on May 18th, 2023

LPL Financial LLC cut its holdings in shares of Jacobs Solutions Inc. (NYSE:J – Get Rating) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,399 shares of the company’s stock after selling 485 shares during the period. LPL Financial LLC’s holdings in Jacobs Solutions were worth $3,770,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc raised its stake in shares of Jacobs Solutions by 15.1% during the 4th quarter. IFP Advisors Inc now owns 2,828 shares of the company’s stock worth $363,000 after buying an additional 372 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Jacobs Solutions by 9.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 257,213 shares of the company’s stock valued at $30,884,000 after buying an additional 22,132 shares in the last quarter. TD Asset Management Inc purchased a new stake in shares of Jacobs Solutions in the fourth quarter valued at approximately $6,678,000. Vista Capital Partners Inc. purchased a new stake in shares of Jacobs Solutions in the fourth quarter valued at approximately $214,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Jacobs Solutions by 10.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 92,808 shares of the company’s stock valued at $11,257,000 after buying an additional 8,946 shares in the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Performance

Shares of J stock opened at $115.70 on Thursday. The company has a market cap of $14.68 billion, a PE ratio of 19.19, a P/E/G ratio of 1.54 and a beta of 0.84. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.53. Jacobs Solutions Inc. has a 52 week low of $106.78 and a 52 week high of $140.90. The company’s fifty day simple moving average is $115.08 and its 200-day simple moving average is $119.60.

Jacobs Solutions (NYSE:J – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.78 by $0.03. Jacobs Solutions had a return on equity of 14.78% and a net margin of 4.96%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the business posted $1.72 EPS. The company’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Jacobs Solutions Inc. will post 7.37 EPS for the current year.

Jacobs Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, May 26th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, May 25th. Jacobs Solutions’s dividend payout ratio is currently 17.25%.

Jacobs Solutions announced that its board has authorized a share buyback plan on Wednesday, January 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

J has been the topic of a number of research analyst reports. Credit Suisse Group decreased their target price on Jacobs Solutions from $161.00 to $155.00 in a research report on Wednesday, February 8th. Sanford C. Bernstein reduced their price target on shares of Jacobs Solutions from $165.00 to $150.00 in a report on Wednesday, May 10th. Royal Bank of Canada upped their price target on shares of Jacobs Solutions from $150.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Finally, StockNews.com initiated coverage on shares of Jacobs Solutions in a report on Thursday. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.00.

Insider Transactions at Jacobs Solutions

In other Jacobs Solutions news, insider Steven J. Demetriou sold 6,666 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $115.20, for a total transaction of $767,923.20. Following the sale, the insider now owns 601,290 shares in the company, valued at $69,268,608. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Christopher M.T. Thompson sold 3,500 shares of the stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $119.64, for a total transaction of $418,740.00. Following the sale, the director now owns 34,682 shares in the company, valued at $4,149,354.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven J. Demetriou sold 6,666 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $115.20, for a total transaction of $767,923.20. Following the completion of the transaction, the insider now directly owns 601,290 shares in the company, valued at approximately $69,268,608. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,498 shares of company stock valued at $2,733,242. Insiders own 1.00% of the company’s stock.

Jacobs Solutions Company Profile

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Jacobs Solutions, Inc is a holding company, which engages in the designing and deployment of technology-centric solutions. It operates through the following business segments: Critical Mission Solutions, People and Places Solutions, and PA Consulting. The Critical Mission Solutions segment offer broad sectors, including U.S.

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Institutional Ownership by Quarter for Jacobs Solutions (NYSE:J)

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