Focus Partners Wealth Sells 3,635 Shares of Jacobs Solutions Inc. $J

Key Points

• Focus Partners Wealth reduced its stake in Jacobs Solutions Inc. by 1.2% to approximately 290,967 shares, valued at around $35.17 million, according to a recent SEC filing.
• In the first quarter, other investors significantly increased their holdings, with Whipplewood Advisors boosting its position by 1,685.7% and Golden State Wealth Management increasing by 286.7%.
• Jacobs Solutions reported $1.62 earnings per share (EPS) for the last quarter, exceeding analyst expectations, but experienced a 28.4% decline in revenue year-over-year.

Focus Partners Wealth lowered its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,967 shares of the company's stock after selling 3,635 shares during the quarter. Focus Partners Wealth owned approximately 0.24% of Jacobs Solutions worth $35,175,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Jacobs Solutions by 21.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,894 shares of the company's stock worth $1,684,000 after purchasing an additional 2,457 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Jacobs Solutions by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 127,215 shares of the company's stock worth $15,379,000 after purchasing an additional 3,451 shares in the last quarter. Gibraltar Capital Management Inc. increased its position in shares of Jacobs Solutions by 13.9% during the 1st quarter. Gibraltar Capital Management Inc. now owns 56,003 shares of the company's stock worth $6,770,000 after purchasing an additional 6,824 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of Jacobs Solutions by 12.7% during the 1st quarter. DAVENPORT & Co LLC now owns 19,776 shares of the company's stock worth $2,391,000 after purchasing an additional 2,222 shares in the last quarter. Finally, FORA Capital LLC acquired a new stake in shares of Jacobs Solutions during the 1st quarter worth about $1,986,000. Institutional investors and hedge funds own 85.65% of the company's stock.

Analysts Set New Price Targets

J has been the subject of several research reports. Wall Street Zen upgraded shares of Jacobs Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Citigroup raised their price objective on shares of Jacobs Solutions from $147.47 to $166.00 and gave the company a "buy" rating in a research report on Monday, July 28th. UBS Group raised their price objective on shares of Jacobs Solutions from $152.00 to $166.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, KeyCorp raised their price objective on shares of Jacobs Solutions from $155.00 to $157.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Jacobs Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.25.

Jacobs Solutions Stock Performance

Shares of NYSE:J traded down $2.02 on Friday, hitting $146.72. The company had a trading volume of 736,236 shares, compared to its average volume of 601,707. Jacobs Solutions Inc. has a 1-year low of $106.23 and a 1-year high of $152.40. The stock has a market cap of $17.54 billion, a price-to-earnings ratio of 36.59, a P/E/G ratio of 2.02 and a beta of 0.79. The stock has a 50 day moving average price of $143.41 and a 200 day moving average price of $130.64. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.65.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. Jacobs Solutions had a net margin of 4.16% and a return on equity of 17.13%. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the company earned $1.96 earnings per share. The company's quarterly revenue was down 28.4% on a year-over-year basis. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. Analysts expect that Jacobs Solutions Inc. will post 6.05 EPS 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 $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 presently 31.92%.

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.