Envestnet Portfolio Solutions Inc. Sells 8,429 Shares of Jacobs Solutions Inc. $J

Key Points

• Envestnet Portfolio Solutions Inc. has reduced its stake in Jacobs Solutions Inc. by 63.7% in the second quarter, selling 8,429 shares and holding 4,807 shares worth $632,000 as of its latest SEC filing.
• Jacobs Solutions reported a quarterly earnings per share of $1.62, surpassing estimates, but its revenue of $3.03 billion was below expectations, down 28.4% year-over-year.
• The company has announced a quarterly dividend of $0.32, representing an annualized dividend yield of 0.8%, with a payout ratio of 31.92%.

Envestnet Portfolio Solutions Inc. lowered its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 63.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,807 shares of the company's stock after selling 8,429 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Jacobs Solutions were worth $632,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in J. Fulton Bank N.A. boosted its position in Jacobs Solutions by 0.9% during the second quarter. Fulton Bank N.A. now owns 8,570 shares of the company's stock worth $1,127,000 after purchasing an additional 74 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Jacobs Solutions by 8.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,036 shares of the company's stock worth $136,000 after buying an additional 78 shares during the period. Avidian Wealth Enterprises LLC grew its stake in Jacobs Solutions by 4.3% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 2,111 shares of the company's stock valued at $255,000 after buying an additional 87 shares during the last quarter. Tlwm grew its stake in Jacobs Solutions by 1.7% in the 1st quarter. Tlwm now owns 6,225 shares of the company's stock valued at $753,000 after buying an additional 105 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in Jacobs Solutions by 2.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 4,220 shares of the company's stock worth $510,000 after acquiring an additional 108 shares during the period. Institutional investors and hedge funds own 85.65% of the company's stock.

Jacobs Solutions Trading Up 4.6%

Shares of Jacobs Solutions stock opened at $162.57 on Tuesday. Jacobs Solutions Inc. has a 52-week low of $106.23 and a 52-week high of $164.63. The firm has a market capitalization of $19.43 billion, a PE ratio of 40.54, a price-to-earnings-growth ratio of 1.83 and a beta of 0.81. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.39 and a quick ratio of 1.39. The company's fifty day moving average price is $149.71 and its two-hundred day moving average price is $136.13.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.09 billion. Jacobs Solutions had a net margin of 4.16% and a return on equity of 17.13%. The firm's revenue was down 28.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.96 EPS. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. On average, analysts expect 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 was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.8%. Jacobs Solutions's dividend payout ratio is presently 31.92%.

Analyst Ratings Changes

J has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Jacobs Solutions from $148.00 to $163.00 and gave the company a "hold" rating in a report on Wednesday, October 8th. Wall Street Zen downgraded Jacobs Solutions from a "buy" rating to a "hold" rating in a research note on Saturday. KeyCorp lifted their price target on Jacobs Solutions from $157.00 to $170.00 and gave the stock an "overweight" rating in a research report on Monday. Weiss Ratings reissued a "hold (c+)" rating on shares of Jacobs Solutions in a research report on Wednesday, October 8th. Finally, Barclays boosted their target price on shares of Jacobs Solutions from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Jacobs Solutions has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Jacobs Solutions Company 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.

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