Envestnet Asset Management Inc. Sells 22,775 Shares of Jacobs Solutions Inc. (NYSE:J)

Envestnet Asset Management Inc. cut its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 6.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 324,489 shares of the company's stock after selling 22,775 shares during the period. Envestnet Asset Management Inc. owned approximately 0.26% of Jacobs Solutions worth $39,227,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Colonial Trust Co SC lifted its position in Jacobs Solutions by 10,250.0% during the fourth quarter. Colonial Trust Co SC now owns 207 shares of the company's stock worth $28,000 after purchasing an additional 205 shares during the period. Avalon Trust Co bought a new position in Jacobs Solutions in the 4th quarter valued at about $33,000. Rossby Financial LCC acquired a new position in shares of Jacobs Solutions in the 1st quarter valued at approximately $33,000. Assetmark Inc. lifted its holdings in shares of Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company's stock worth $45,000 after acquiring an additional 100 shares during the period. Finally, Whipplewood Advisors LLC boosted its position in shares of Jacobs Solutions by 1,685.7% during the 1st quarter. Whipplewood Advisors LLC now owns 375 shares of the company's stock worth $45,000 after acquiring an additional 354 shares in the last quarter. 85.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Jacobs Solutions Trading Up 0.7%

NYSE J traded up $0.89 during trading hours on Monday, reaching $136.03. The company's stock had a trading volume of 689,300 shares, compared to its average volume of 840,138. The firm has a fifty day simple moving average of $128.02 and a 200-day simple moving average of $127.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.50 and a quick ratio of 1.50. Jacobs Solutions Inc. has a 52 week low of $106.23 and a 52 week high of $150.54. The stock has a market cap of $16.35 billion, a P/E ratio of 37.47, a P/E/G ratio of 1.90 and a beta of 0.77.

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

Jacobs Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 23rd were given a dividend of $0.32 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.94%. Jacobs Solutions's dividend payout ratio (DPR) is currently 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.