Millennium Management LLC Trims Stake in Jacobs Solutions Inc. $J

Key Points

• Millennium Management LLC reduced its stake in Jacobs Solutions Inc. by 21.7%, selling 102,066 shares, leaving it with 368,190 shares valued at approximately $44.5 million.
• Jacobs Solutions reported Q2 earnings of $1.62 per share, beating estimates, although revenue declined by 28.4% year-over-year.
• Several analysts upgraded their ratings for Jacobs Solutions, with a consensus rating of "Moderate Buy" and an average target price of $155.25 for the stock.

Millennium Management LLC cut its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368,190 shares of the company's stock after selling 102,066 shares during the period. Millennium Management LLC owned 0.31% of Jacobs Solutions worth $44,510,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Rossby Financial LCC acquired a new stake in shares of Jacobs Solutions in the 1st quarter valued at about $33,000. Whipplewood Advisors LLC grew its stake in shares of Jacobs Solutions by 1,685.7% in the 1st quarter. Whipplewood Advisors LLC now owns 375 shares of the company's stock valued at $45,000 after buying an additional 354 shares during the period. Colonial Trust Advisors acquired a new stake in shares of Jacobs Solutions in the 1st quarter valued at about $51,000. Catalyst Capital Advisors LLC grew its stake in shares of Jacobs Solutions by 45.2% in the 1st quarter. Catalyst Capital Advisors LLC now owns 527 shares of the company's stock valued at $64,000 after buying an additional 164 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in shares of Jacobs Solutions by 286.7% in the 1st quarter. Golden State Wealth Management LLC now owns 611 shares of the company's stock valued at $74,000 after buying an additional 453 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Stock Performance

Shares of NYSE:J traded down $2.02 during mid-day trading on Friday, reaching $146.72. The company had a trading volume of 736,236 shares, compared to its average volume of 607,206. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.65. The firm has a market cap of $17.54 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 1.99 and a beta of 0.79. The company's 50-day moving average price is $143.41 and its 200-day moving average price is $130.70. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $152.40.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.06. The company had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.09 billion. Jacobs Solutions had a net margin of 4.16% and a return on equity of 17.13%. Jacobs Solutions's revenue was down 28.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.96 EPS. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. As a group, equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be issued 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 31.92%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group lifted their price target on Jacobs Solutions from $152.00 to $166.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. KeyCorp lifted their price target on Jacobs Solutions from $155.00 to $157.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Citigroup lifted their price target on Jacobs Solutions from $147.47 to $166.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Wall Street Zen upgraded Jacobs Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.25.

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.