Jacobs Solutions Inc. (NYSE:J) Shares Sold by Tower Bridge Advisors

Key Points

• Tower Bridge Advisors reduced its holdings in Jacobs Solutions by 3.1%, now owning 123,268 shares valued at approximately $14.9 million, which represents 1.7% of their investment portfolio.
• Jacobs Solutions reported quarterly earnings per share (EPS) of $1.43, exceeding the consensus estimate of $1.41, with a revenue of $2.91 billion, below the expected $3 billion.
• Analysts have mixed ratings on Jacobs Solutions, with price targets ranging from $130.00 to $166.00, leading to an average rating of "Moderate Buy" and a consensus target price of $153.25.

Tower Bridge Advisors lowered its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,268 shares of the company's stock after selling 3,893 shares during the quarter. Jacobs Solutions comprises 1.7% of Tower Bridge Advisors' holdings, making the stock its 13th largest holding. Tower Bridge Advisors owned 0.10% of Jacobs Solutions worth $14,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Colonial Trust Co SC raised its stake in shares of Jacobs Solutions by 10,250.0% in the fourth quarter. Colonial Trust Co SC now owns 207 shares of the company's stock worth $28,000 after purchasing an additional 205 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Jacobs Solutions in the first quarter worth about $33,000. Optiver Holding B.V. raised its stake in shares of Jacobs Solutions by 113.8% in the fourth quarter. Optiver Holding B.V. now owns 357 shares of the company's stock worth $48,000 after purchasing an additional 190 shares during the last quarter. Whipplewood Advisors LLC raised its stake in shares of Jacobs Solutions by 1,685.7% in the first quarter. Whipplewood Advisors LLC now owns 375 shares of the company's stock worth $45,000 after purchasing an additional 354 shares during the last quarter. Finally, Transce3nd LLC acquired a new stake in Jacobs Solutions during the fourth quarter worth about $53,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on J. Citigroup raised their target price on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a report on Monday. KeyCorp raised Jacobs Solutions from a "sector weight" rating to an "overweight" rating and set a $155.00 target price on the stock in a report on Wednesday, July 16th. UBS Group dropped their target price on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Truist Financial raised their price objective on Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a report on Monday, May 12th. Finally, Royal Bank Of Canada boosted their price objective on Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $153.25.

Jacobs Solutions Price Performance

Shares of J traded down $2.63 during trading hours on Friday, hitting $139.24. 1,043,912 shares of the stock were exchanged, compared to its average volume of 616,574. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.50 and a current ratio of 1.50. Jacobs Solutions Inc. has a 12-month low of $106.23 and a 12-month high of $150.54. 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 2.00 and a beta of 0.79. The stock's 50-day moving average price is $132.01 and its two-hundred day moving average price is $128.15.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3 billion. Jacobs Solutions had a return on equity of 15.67% and a net margin of 3.53%. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 earnings per share. Research analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend 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 35.26%.

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.