Canada Pension Plan Investment Board Trims Stake in Jacobs Solutions Inc. (NYSE:J)

Canada Pension Plan Investment Board cut its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 52.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,497 shares of the company's stock after selling 98,535 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.07% of Jacobs Solutions worth $11,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ninety One UK Ltd raised 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 valued at $265,649,000 after purchasing an additional 449,161 shares during the period. Proficio Capital Partners LLC raised its position 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 valued at $59,977,000 after buying an additional 446,057 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Jacobs Solutions by 138.9% in 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 in the last quarter. National Bank of Canada FI boosted its position 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 acquiring an additional 239,764 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Jacobs Solutions during the fourth quarter valued at $24,069,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Trading Down 0.5 %

Shares of J traded down $0.66 during midday trading on Friday, hitting $121.67. The stock had a trading volume of 527,072 shares, compared to its average volume of 781,918. Jacobs Solutions Inc. has a 1 year low of $106.23 and a 1 year high of $156.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. The stock's 50 day moving average is $121.30 and its 200 day moving average is $132.07. The firm has a market cap of $14.91 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the firm earned $1.45 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.05%. This is an increase from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions's dividend payout ratio (DPR) is 26.39%.

Jacobs Solutions announced that its board has initiated a stock repurchase plan on Tuesday, February 4th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial dropped their price objective on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Robert W. Baird reduced their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup decreased their price objective on Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a report on Friday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.86.

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.