Nuveen Asset Management LLC Reduces Stake in Jacobs Solutions Inc. (NYSE:J)

Nuveen Asset Management LLC lowered its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 425,853 shares of the company's stock after selling 11,008 shares during the quarter. Nuveen Asset Management LLC owned about 0.35% of Jacobs Solutions worth $56,902,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Colonial Trust Co SC increased its stake in Jacobs Solutions by 10,250.0% during the fourth quarter. Colonial Trust Co SC now owns 207 shares of the company's stock worth $28,000 after acquiring an additional 205 shares during the last quarter. Avalon Trust Co acquired a new stake in shares of Jacobs Solutions during the 4th quarter worth about $33,000. Larson Financial Group LLC raised its holdings in Jacobs Solutions by 71.9% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company's stock valued at $37,000 after buying an additional 115 shares during the period. Assetmark Inc. raised its holdings in Jacobs Solutions by 42.7% in the 4th quarter. Assetmark Inc. now owns 334 shares of the company's stock valued at $45,000 after buying an additional 100 shares during the period. Finally, Optiver Holding B.V. lifted its position in Jacobs Solutions by 113.8% in the fourth quarter. Optiver Holding B.V. now owns 357 shares of the company's stock valued at $48,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company's stock.

Jacobs Solutions Stock Up 0.5%

NYSE J traded up $0.61 during trading hours on Thursday, hitting $126.92. 639,061 shares of the company were exchanged, compared to its average volume of 803,009. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The firm has a market cap of $15.25 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.84 and a beta of 0.77. The company has a 50 day moving average of $121.28 and a two-hundred day moving average of $130.15. Jacobs Solutions Inc. has a 52-week low of $106.23 and a 52-week high of $156.31.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $3 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The business's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.91 earnings per share. Equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be issued a $0.32 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.01%. Jacobs Solutions's payout ratio is 35.26%.

Jacobs Solutions announced that its board has initiated a stock buyback program on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on J. Royal Bank of Canada lifted their price target on shares of Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Citigroup dropped their target price on shares of Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating for the company in a report on Friday, April 25th. Robert W. Baird decreased their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. UBS Group lowered their price target on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Truist Financial boosted 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Jacobs Solutions presently has an average rating of "Moderate Buy" and an average target price of $150.86.

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.