Cresset Asset Management LLC Sells 6,259 Shares of Jacobs Solutions Inc. (NYSE:J)

Cresset Asset Management LLC cut its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 50.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,193 shares of the company's stock after selling 6,259 shares during the quarter. Cresset Asset Management LLC's holdings in Jacobs Solutions were worth $827,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Heritage Family Offices LLP grew its stake in Jacobs Solutions by 55.7% in the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company's stock valued at $1,993,000 after purchasing an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Jacobs Solutions by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company's stock valued at $1,305,000 after buying an additional 175 shares during the last quarter. Occidental Asset Management LLC lifted its position in shares of Jacobs Solutions by 11.7% in the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company's stock valued at $3,347,000 after buying an additional 2,619 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Jacobs Solutions by 956.8% in the fourth quarter. National Bank of Canada FI now owns 264,824 shares of the company's stock valued at $35,386,000 after buying an additional 239,764 shares during the last quarter. Finally, Keene & Associates Inc. acquired a new stake in shares of Jacobs Solutions in the fourth quarter valued at approximately $2,973,000. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Stock Performance

NYSE:J opened at $127.59 on Tuesday. The stock has a market cap of $15.64 billion, a P/E ratio of 26.31, a PEG ratio of 1.84 and a beta of 0.77. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $120.54 and a 200 day simple moving average of $130.65. Jacobs Solutions Inc. has a 1-year low of $106.23 and a 1-year high of $156.31.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. The firm had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $3 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.91 EPS. Research analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

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

Jacobs Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be paid a $0.32 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.28 annualized dividend and a dividend yield of 1.00%. Jacobs Solutions's payout ratio is 35.26%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Robert W. Baird cut their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Truist Financial raised their price objective on Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research report on Monday. UBS Group cut their price objective on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating for the company in a research report on Friday. Citigroup dropped their price target on Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Royal Bank of Canada lifted their price target on Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Jacobs Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $150.86.

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.

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