Panagora Asset Management Inc. Sells 97,136 Shares of Jacobs Solutions Inc. $J

Key Points

• Panagora Asset Management Inc. has significantly reduced its stake in Jacobs Solutions Inc. by 81.8%, selling 97,136 shares and now holding only 21,647 shares worth approximately $2.6 million.
• Jacobs Solutions recently reported earnings of $1.62 per share, which exceeded expectations, although the revenue fell short at $3.03 billion, marking a 28.4% year-over-year decline.
• The company's board announced a quarterly dividend of $0.32 per share, translating to an annual yield of 0.9%, with a payout ratio of 31.92%.

Panagora Asset Management Inc. lowered its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 81.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,647 shares of the company's stock after selling 97,136 shares during the period. Panagora Asset Management Inc.'s holdings in Jacobs Solutions were worth $2,617,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Benjamin Edwards Inc. increased its holdings in Jacobs Solutions by 5.3% during the fourth quarter. Benjamin Edwards Inc. now owns 1,731 shares of the company's stock worth $231,000 after buying an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of Jacobs Solutions by 4.3% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 2,111 shares of the company's stock worth $255,000 after purchasing an additional 87 shares during the last quarter. Tlwm raised its holdings in shares of Jacobs Solutions by 1.7% in the 1st quarter. Tlwm now owns 6,225 shares of the company's stock worth $753,000 after purchasing an additional 105 shares during the period. Kestra Private Wealth Services LLC lifted its stake in Jacobs Solutions by 2.6% in the first quarter. Kestra Private Wealth Services LLC now owns 4,220 shares of the company's stock valued at $510,000 after purchasing an additional 108 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its holdings in Jacobs Solutions by 1.5% during the first quarter. Ameritas Advisory Services LLC now owns 8,034 shares of the company's stock valued at $989,000 after purchasing an additional 117 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Price Performance

Jacobs Solutions stock traded up $1.65 during midday trading on Friday, hitting $145.39. 655,722 shares of the company's stock were exchanged, compared to its average volume of 584,526. The company has a market cap of $17.38 billion, a P/E ratio of 36.26, a PEG ratio of 1.95 and a beta of 0.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a 50-day moving average price of $142.07 and a two-hundred day moving average price of $130.06. Jacobs Solutions Inc. has a 52-week low of $106.23 and a 52-week high of $152.40.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company posted $1.96 EPS. The company's revenue for the quarter was down 28.4% on a year-over-year basis. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. On average, equities research analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be given a $0.32 dividend. The ex-dividend date 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 presently 31.92%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group upped their price target on Jacobs Solutions from $152.00 to $166.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Citigroup increased their target price on shares of Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. KeyCorp lifted their target price on shares of Jacobs Solutions from $155.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of Jacobs Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Truist Financial lifted their price objective on shares of Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Jacobs Solutions currently has an average rating of "Moderate Buy" and a consensus 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.