Rafferty Asset Management LLC Sells 2,459 Shares of Jacobs Solutions Inc. $J

Key Points

• Rafferty Asset Management LLC reduced its stake in Jacobs Solutions Inc. by 21.2% in the first quarter, selling 2,459 shares and now owns 9,151 shares valued at approximately $1.1 million.
• Jacobs Solutions recently reported quarterly earnings, with earnings per share at $1.62, exceeding estimates, despite a 28.4% year-over-year revenue decline to $3.03 billion.
• The company declared a quarterly dividend of $0.32 per share, representing a 0.9% yield, with the payout ratio currently at 31.92%.

Rafferty Asset Management LLC cut its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 21.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,151 shares of the company's stock after selling 2,459 shares during the quarter. Rafferty Asset Management LLC's holdings in Jacobs Solutions were worth $1,106,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. FORA Capital LLC bought a new position in shares of Jacobs Solutions in the first quarter valued at about $1,986,000. Comerica Bank grew its position in shares of Jacobs Solutions by 20.4% during the 1st quarter. Comerica Bank now owns 44,387 shares of the company's stock worth $5,366,000 after buying an additional 7,529 shares during the period. Jump Financial LLC grew its position in shares of Jacobs Solutions by 84.8% during the 1st quarter. Jump Financial LLC now owns 3,051 shares of the company's stock worth $369,000 after buying an additional 1,400 shares during the period. SVB Wealth LLC acquired a new position in shares of Jacobs Solutions in the 1st quarter valued at approximately $128,000. Finally, AlphaQuest LLC grew its position in shares of Jacobs Solutions by 966.6% in the 1st quarter. AlphaQuest LLC now owns 14,837 shares of the company's stock valued at $1,794,000 after purchasing an additional 13,446 shares during the period. 85.65% of the stock is owned by institutional investors.

Jacobs Solutions Price Performance

NYSE:J traded down $1.92 during trading hours on Wednesday, hitting $143.31. 517,504 shares of the stock were exchanged, compared to its average volume of 654,383. 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's fifty day moving average price is $141.48 and its 200 day moving average price is $129.85. The company has a market cap of $17.13 billion, a P/E ratio of 35.74, a P/E/G ratio of 1.99 and a beta of 0.79. Jacobs Solutions Inc. has a 52-week low of $106.23 and a 52-week high of $152.40.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.09 billion. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%.Jacobs Solutions's revenue for the quarter was down 28.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 earnings per share. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be issued a $0.32 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. Jacobs Solutions's payout ratio is currently 31.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on J shares. Wall Street Zen upgraded Jacobs Solutions from a "hold" rating to a "buy" rating in a research note on Saturday. Truist Financial raised their price target on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Citigroup boosted their price objective on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Royal Bank Of Canada upped their target price on Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, UBS Group raised their price target on Jacobs Solutions from $152.00 to $166.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Jacobs Solutions currently has a consensus rating of "Moderate Buy" and an average target price of $155.25.

About Jacobs Solutions

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.