Federated Hermes Inc. Sells 14,211 Shares of Jacobs Solutions Inc. (NYSE:J)

Key Points

• Federated Hermes Inc. sold 14,211 shares of Jacobs Solutions Inc., reducing its stake by 24.4% to 44,113 shares valued at approximately $5.33 million.
• Several institutional investors, including Kovitz Investment Group and Lazard Asset Management, significantly increased their positions in Jacobs Solutions, highlighting strong institutional interest in the stock.
• Jacobs Solutions announced a quarterly dividend of $0.32 per share, representing an annualized dividend yield of 0.9% and a payout ratio of 35.26%.

Federated Hermes Inc. cut its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 24.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,113 shares of the company's stock after selling 14,211 shares during the quarter. Federated Hermes Inc.'s holdings in Jacobs Solutions were worth $5,333,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC raised its position in shares of Jacobs Solutions by 345.9% in 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 buying an additional 3,597,564 shares in the last quarter. Ninety One UK Ltd increased its stake in 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 acquiring an additional 188,852 shares during the period. Lazard Asset Management LLC raised its holdings in Jacobs Solutions by 933.6% in the 4th 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 in the last quarter. Bank of America Corp DE raised its holdings in Jacobs Solutions by 4.1% in the 4th 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 in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Jacobs Solutions by 6.2% during the 4th quarter. Northern Trust Corp now owns 1,128,088 shares of the company's stock valued at $150,735,000 after acquiring an additional 65,980 shares during the period. 85.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on J. Royal Bank Of Canada lifted their price objective 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. Truist Financial lifted their price target on Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research note on Monday, May 12th. UBS Group lowered their price target on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating for the company in a report on Friday, May 9th. KeyCorp raised Jacobs Solutions from a "sector weight" rating to an "overweight" rating and set a $155.00 price objective on the stock in a research note on Wednesday, July 16th. Finally, Citigroup boosted their target price on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $153.25.

Jacobs Solutions Stock Performance

Shares of J stock opened at $139.24 on Monday. The firm has a 50 day moving average of $132.28 and a 200-day moving average of $128.05. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 38.36, a price-to-earnings-growth ratio of 1.96 and a beta of 0.79. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.68. Jacobs Solutions Inc. has a 52 week low of $106.23 and a 52 week high of $150.54.

Jacobs Solutions (NYSE:J - Get Free Report) last issued 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. Jacobs Solutions had a return on equity of 15.67% and a net margin of 3.53%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period last year, the business posted $1.91 EPS. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

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

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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