Jacobs Solutions Inc. (NYSE:J) Stake Reduced by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Jacobs Solutions Inc. by 33.2% during the 1st quarter, now holding approximately 0.05% of the company's stock valued at about $7.9 million.
• A number of hedge funds, including Kovitz Investment Group and Lazard Asset Management, have significantly increased their holdings in Jacobs Solutions, highlighting strong institutional interest in the stock.
• Jacobs Solutions reported a 2.2% revenue increase year-over-year for the last quarter, with earnings per share at $1.43, slightly above analyst estimates.

TD Asset Management Inc cut its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 33.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,669 shares of the company's stock after selling 32,567 shares during the quarter. TD Asset Management Inc owned about 0.05% of Jacobs Solutions worth $7,939,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC grew its stake in Jacobs Solutions by 345.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company's stock valued at $619,676,000 after acquiring an additional 3,597,564 shares in the last quarter. Geode Capital Management LLC increased its holdings in Jacobs Solutions by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 3,155,839 shares of the company's stock worth $420,626,000 after buying an additional 10,174 shares during the last quarter. Ninety One UK Ltd increased its holdings in Jacobs Solutions by 9.5% in the first quarter. Ninety One UK Ltd now owns 2,176,944 shares of the company's stock worth $263,171,000 after buying an additional 188,852 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Jacobs Solutions by 933.6% in the fourth quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company's stock worth $281,808,000 after buying an additional 1,904,988 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Jacobs Solutions by 9.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,809,207 shares of the company's stock worth $241,746,000 after buying an additional 157,086 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on J shares. Royal Bank Of Canada increased their price objective on Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. KeyCorp upgraded Jacobs Solutions from a "sector weight" rating to an "overweight" rating and set a $155.00 target price for the company in a research note on Wednesday, July 16th. Truist Financial increased their target price on Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Citigroup increased their target price on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a report on Monday. Finally, UBS Group cut their target price on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Jacobs Solutions presently has a consensus rating of "Moderate Buy" and an average target price of $153.25.

Jacobs Solutions Price Performance

Shares of NYSE:J opened at $141.93 on Friday. 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 twelve month low of $106.23 and a twelve month high of $150.54. The stock's 50 day moving average is $132.01 and its 200-day moving average is $128.15. The firm has a market capitalization of $17.05 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 1.99 and a beta of 0.77.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 earnings per share 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 business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $3 billion. During the same period in the prior year, the company earned $1.91 earnings per share. Jacobs Solutions's revenue was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.32 per share. 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.

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