Eastern Bank Sells 2,074 Shares of Jacobs Solutions Inc. (NYSE:J)

Key Points

• Eastern Bank reduced its stake in Jacobs Solutions by 2.0%, selling 2,074 shares and holding 99,494 shares at a valuation of approximately $12 million.
• Jacobs Solutions reported $1.43 EPS for the latest quarter, slightly beating analyst expectations, but its revenue of $2.91 billion fell short of consensus estimates of $3 billion.
• Analysts have set a consensus rating of "Moderate Buy" for Jacobs Solutions, with an average target price of $153.25 after multiple price target adjustments from various firms.

Eastern Bank reduced its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,494 shares of the company's stock after selling 2,074 shares during the period. Eastern Bank owned about 0.08% of Jacobs Solutions worth $12,028,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in J. Kovitz Investment Group Partners LLC grew its position in Jacobs Solutions by 345.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company's stock valued at $619,676,000 after purchasing an additional 3,597,564 shares in the last quarter. Geode Capital Management LLC grew its position in Jacobs Solutions by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 3,155,839 shares of the company's stock valued at $420,626,000 after purchasing an additional 10,174 shares in the last quarter. Ninety One UK Ltd grew its position in Jacobs Solutions by 9.5% during the first quarter. Ninety One UK Ltd now owns 2,176,944 shares of the company's stock valued at $263,171,000 after purchasing an additional 188,852 shares in the last quarter. Lazard Asset Management LLC grew its position 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 purchasing an additional 1,904,988 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Jacobs Solutions by 9.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,809,207 shares of the company's stock valued at $241,746,000 after purchasing an additional 157,086 shares in the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on J. UBS Group lowered 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 report on Friday, May 9th. Citigroup lifted their target price on shares of Jacobs Solutions from $147.47 to $166.00 and gave the company a "buy" rating in a research note on Monday. Truist Financial lifted their target price on shares of Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research note on Monday, May 12th. KeyCorp upgraded shares of Jacobs Solutions from a "sector weight" rating to an "overweight" rating and set a $155.00 target price for the company in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada lifted their target price on shares of Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $153.25.

Jacobs Solutions Stock Performance

Shares of Jacobs Solutions stock traded down $2.63 on Friday, reaching $139.24. The stock had a trading volume of 1,043,912 shares, compared to its average volume of 616,574. The business's 50-day moving average price is $132.01 and its two-hundred day moving average price is $128.15. 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 Inc. has a fifty-two week low of $106.23 and a fifty-two week high of $150.54. The stock has a market cap of $16.73 billion, a P/E ratio of 38.36, a price-to-earnings-growth ratio of 2.00 and a beta of 0.79.

Jacobs Solutions (NYSE:J - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.43 EPS 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 net margin of 3.53% and a return on equity of 15.67%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 EPS. On average, sell-side analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 22nd. Jacobs Solutions's dividend payout ratio is presently 35.26%.

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.