National Bank of Canada FI Sells 119,937 Shares of Jacobs Solutions Inc. (NYSE:J)

Key Points

• National Bank of Canada FI reduced its stake in Jacobs Solutions by 45.3%, owning 144,887 shares valued at approximately $17.51 million at the end of the most recent reporting period.
• Jacobs Solutions reported quarterly earnings of $1.62 per share, exceeding expectations but experienced a 28.4% revenue decline compared to the same quarter last year.
• The company declared a $0.32 quarterly dividend, resulting in an annualized yield of 0.9% with a payout ratio of 31.92%.

National Bank of Canada FI trimmed its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 45.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 144,887 shares of the company's stock after selling 119,937 shares during the quarter. National Bank of Canada FI owned 0.12% of Jacobs Solutions worth $17,514,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in J. Franklin Resources Inc. raised its holdings in shares of Jacobs Solutions by 7.3% in the fourth quarter. Franklin Resources Inc. now owns 9,290 shares of the company's stock valued at $1,241,000 after acquiring an additional 628 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Jacobs Solutions by 18.0% in the fourth quarter. Advisory Services Network LLC now owns 7,944 shares of the company's stock valued at $1,061,000 after acquiring an additional 1,212 shares in the last quarter. Raymond James Financial Inc. bought a new position in Jacobs Solutions in the fourth quarter worth about $24,069,000. XTX Topco Ltd raised its holdings in Jacobs Solutions by 10.9% in the fourth quarter. XTX Topco Ltd now owns 5,579 shares of the company's stock worth $745,000 after purchasing an additional 550 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in Jacobs Solutions in the fourth quarter worth about $299,000. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Stock Down 0.1%

Shares of J stock traded down $0.12 during trading hours on Friday, reaching $148.21. The company had a trading volume of 292,299 shares, compared to its average volume of 822,875. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.39 and a current ratio of 1.39. Jacobs Solutions Inc. has a twelve month low of $106.23 and a twelve month high of $152.40. The company has a market capitalization of $17.72 billion, a P/E ratio of 37.00, a price-to-earnings-growth ratio of 2.07 and a beta of 0.79. The stock's fifty day simple moving average is $136.11 and its 200 day simple moving average is $128.66.

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. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%. The firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period last year, the firm earned $1.96 EPS. The firm's revenue was down 28.4% compared to the same quarter last year. As a group, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be given 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 dividend payout ratio (DPR) is presently 31.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on J. Citigroup boosted their price target on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Truist Financial upped their target price on Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research report on Monday, May 12th. KeyCorp upped their target price on Jacobs Solutions from $155.00 to $157.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. UBS Group upped their target price on Jacobs Solutions from $152.00 to $166.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada upped their target price 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.