Cresset Asset Management LLC Has $329,000 Stock Position in Jacobs Solutions Inc. $J

Key Points

• Cresset Asset Management LLC significantly reduced its stake in Jacobs Solutions Inc. by 56.1%, selling 3,473 shares and retaining 2,720 shares valued at approximately $329,000.
• Jacobs Solutions reported earnings of $1.62 per share for the last quarter, exceeding expectations, but experienced a 28.4% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $0.32 per share, reflecting an annualized yield of 0.9% and a payout ratio of 31.92%.

Cresset Asset Management LLC trimmed its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 56.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,720 shares of the company's stock after selling 3,473 shares during the quarter. Cresset Asset Management LLC's holdings in Jacobs Solutions were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its position in Jacobs Solutions by 5.7% during the first quarter. EverSource Wealth Advisors LLC now owns 4,230 shares of the company's stock worth $511,000 after acquiring an additional 227 shares during the period. Aberdeen Group plc increased its position in Jacobs Solutions by 117.7% during the first quarter. Aberdeen Group plc now owns 124,869 shares of the company's stock worth $15,012,000 after acquiring an additional 67,504 shares during the period. Fox Run Management L.L.C. increased its position in Jacobs Solutions by 139.3% during the first quarter. Fox Run Management L.L.C. now owns 12,955 shares of the company's stock worth $1,566,000 after acquiring an additional 7,542 shares during the period. Inspire Trust Co. N.A. increased its position in Jacobs Solutions by 176.1% during the first quarter. Inspire Trust Co. N.A. now owns 27,000 shares of the company's stock worth $3,264,000 after acquiring an additional 17,220 shares during the period. Finally, Harfst & Associates Inc. bought a new position in Jacobs Solutions during the first quarter worth $648,000. Institutional investors own 85.65% of the company's stock.

Jacobs Solutions Price Performance

Shares of NYSE:J traded down $1.42 during midday trading on Thursday, reaching $146.94. The company's stock had a trading volume of 426,091 shares, compared to its average volume of 768,338. The business's fifty day simple moving average is $140.12 and its 200-day simple moving average is $129.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.39 and a quick ratio of 1.39. Jacobs Solutions Inc. has a fifty-two week low of $106.23 and a fifty-two week high of $152.40. The company has a market capitalization of $17.56 billion, a P/E ratio of 36.64, a P/E/G ratio of 2.01 and a beta of 0.79.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%.The business had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the previous year, the business posted $1.96 earnings per share. The firm's revenue for the quarter was down 28.4% compared to the same quarter last year. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. As a group, equities research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. UBS Group lifted their price target on shares of Jacobs Solutions from $152.00 to $166.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. KeyCorp lifted their price target on shares of Jacobs Solutions from $155.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Citigroup lifted their price target on shares of Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Finally, Royal Bank Of Canada lifted their price target 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. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average 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.