Boston Partners Sells 323,584 Shares of Jacobs Solutions Inc. (NYSE:J)

Key Points

• Boston Partners has reduced its stake in Jacobs Solutions Inc. by 8.7%, selling 323,584 shares in the first quarter, and now holds approximately 2.78% of the company valued at $411,389,000.
• Jacobs Solutions reported $1.62 EPS for the last quarter, exceeding estimates, although its revenue of $3.03 billion fell short of expectations by $60 million.
• The company announced a quarterly dividend of $0.32 per share, representing a 0.9% yield, with shareholders of record set to receive it on September 19th.

Boston Partners decreased its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 8.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,405,995 shares of the company's stock after selling 323,584 shares during the period. Boston Partners owned 2.78% of Jacobs Solutions worth $411,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC lifted its position in shares of Jacobs Solutions by 345.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company's stock worth $619,676,000 after purchasing an additional 3,597,564 shares during the last quarter. Ninety One UK Ltd lifted its position in shares of Jacobs Solutions by 9.5% during the 1st quarter. Ninety One UK Ltd now owns 2,176,944 shares of the company's stock worth $263,171,000 after purchasing an additional 188,852 shares during the last quarter. Invesco Ltd. increased its stake in Jacobs Solutions by 5.3% during the first quarter. Invesco Ltd. now owns 2,147,078 shares of the company's stock valued at $259,560,000 after acquiring an additional 108,366 shares during the period. Lazard Asset Management LLC increased its stake in Jacobs Solutions by 933.6% during the fourth quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company's stock valued at $281,808,000 after acquiring an additional 1,904,988 shares during the period. Finally, Bank of America Corp DE increased its stake in Jacobs Solutions by 4.1% during the fourth quarter. Bank of America Corp DE now owns 1,782,488 shares of the company's stock valued at $238,176,000 after acquiring an additional 70,470 shares during the period. Institutional investors and hedge funds own 85.65% of the company's stock.

Jacobs Solutions Stock Down 0.1%

Shares of NYSE J traded down $0.22 during mid-day trading on Friday, hitting $148.11. The company had a trading volume of 626,284 shares, compared to its average volume of 726,404. The company has a market capitalization of $17.71 billion, a PE ratio of 36.94, a price-to-earnings-growth ratio of 2.01 and a beta of 0.79. The firm has a 50-day simple moving average of $136.52 and a two-hundred day simple moving average of $128.67. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.65. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $152.40.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.56 by $0.06. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.09 billion. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%. The business's revenue was down 28.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.96 earnings per share. On average, equities analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 22nd. Jacobs Solutions's payout ratio is currently 31.92%.

Wall Street Analyst Weigh In

J has been the topic of several recent analyst reports. Citigroup boosted their target price on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Royal Bank Of Canada boosted their target price on Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. UBS Group upped their price objective on Jacobs Solutions from $152.00 to $166.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. KeyCorp upped their price objective on Jacobs Solutions from $155.00 to $157.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Finally, Truist Financial upped their price objective on Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $155.25.

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.