Bank of New York Mellon Corp Trims Stock Position in Jacobs Solutions Inc. (NYSE:J)

Bank of New York Mellon Corp decreased its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 8.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 816,166 shares of the company's stock after selling 79,838 shares during the quarter. Bank of New York Mellon Corp owned about 0.67% of Jacobs Solutions worth $98,666,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of J. Colonial Trust Co SC increased its stake in Jacobs Solutions by 10,250.0% during the 4th quarter. Colonial Trust Co SC now owns 207 shares of the company's stock valued at $28,000 after purchasing an additional 205 shares in the last quarter. Avalon Trust Co acquired a new stake in shares of Jacobs Solutions in the fourth quarter worth $33,000. Rossby Financial LCC acquired a new stake in shares of Jacobs Solutions in the first quarter worth $33,000. Larson Financial Group LLC increased its stake in shares of Jacobs Solutions by 71.9% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company's stock worth $37,000 after acquiring an additional 115 shares during the period. Finally, Assetmark Inc. increased its stake in shares of Jacobs Solutions by 42.7% in the fourth quarter. Assetmark Inc. now owns 334 shares of the company's stock worth $45,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 85.65% of the company's stock.

Jacobs Solutions Stock Performance

NYSE J traded down $0.91 during mid-day trading on Friday, reaching $135.31. 128,489 shares of the stock were exchanged, compared to its average volume of 838,148. The business's 50 day moving average is $127.86 and its 200-day moving average is $127.55. Jacobs Solutions Inc. has a 1 year low of $106.23 and a 1 year high of $150.54. The company has a market capitalization of $16.26 billion, a P/E ratio of 37.27, a P/E/G ratio of 1.89 and a beta of 0.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.50 and a current ratio of 1.50.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $3 billion. Jacobs Solutions had a net margin of 3.53% and a return on equity of 15.67%. The company's revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.91 earnings per share. On average, equities research analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, May 23rd. Jacobs Solutions's dividend payout ratio is currently 35.26%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research note on Monday, May 12th. Citigroup cut their price objective on shares of Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Royal Bank Of Canada increased their price objective on shares of Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, UBS Group cut their price objective on shares of Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $150.86.

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.