Kovitz Investment Group Partners LLC Has $142.44 Million Stake in Jacobs Solutions Inc. (NYSE:J)

Key Points

• Kovitz Investment Group Partners LLC significantly reduced its stake in Jacobs Solutions by 74.6%, owning approximately $142.44 million worth of shares as of the latest SEC filing.
• Jacobs Solutions reported a slight quarterly earnings beat with $1.62 EPS, surpassing analyst estimates, despite a 28.4% decline in revenue compared to the same quarter last year.
• The company also announced a quarterly dividend of $0.32, yielding approximately 0.8% on an annualized basis.

Kovitz Investment Group Partners LLC lowered its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 74.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,178,267 shares of the company's stock after selling 3,459,329 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.98% of Jacobs Solutions worth $142,441,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Harfst & Associates Inc. bought a new position in shares of Jacobs Solutions during the 1st quarter worth approximately $648,000. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Jacobs Solutions by 7.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,121 shares of the company's stock worth $498,000 after buying an additional 285 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in shares of Jacobs Solutions during the 1st quarter worth approximately $147,000. Resona Asset Management Co. Ltd. lifted its position in shares of Jacobs Solutions by 4.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 37,571 shares of the company's stock worth $4,544,000 after buying an additional 1,514 shares in the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. lifted its position in shares of Jacobs Solutions by 363.0% during the 1st quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. now owns 2,500 shares of the company's stock worth $302,000 after buying an additional 1,960 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Truist Financial lifted their target price on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. UBS Group lifted their price target on shares of Jacobs Solutions from $152.00 to $166.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. KeyCorp lifted their price target on shares of Jacobs Solutions from $155.00 to $157.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Royal Bank Of Canada lifted their price target on shares of Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Citigroup lifted their price target on shares of Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $155.25.

Jacobs Solutions Stock Up 1.6%

Jacobs Solutions stock opened at $152.22 on Thursday. Jacobs Solutions Inc. has a 1-year low of $106.23 and a 1-year high of $152.40. The firm has a market capitalization of $18.20 billion, a price-to-earnings ratio of 37.96, a P/E/G ratio of 2.03 and a beta of 0.79. 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 50 day simple moving average of $135.64 and a 200 day simple moving average of $128.58.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. Jacobs Solutions had a net margin of 4.16% and a return on equity of 17.13%. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the business earned $1.96 EPS. Jacobs Solutions's revenue was down 28.4% compared to the same quarter last year. On average, analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 22nd. Jacobs Solutions's payout ratio is currently 31.92%.

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.

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