Principal Financial Group Inc. Trims Stake in Jacobs Solutions Inc. (NYSE:J)

Principal Financial Group Inc. cut its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,270 shares of the company's stock after selling 3,965 shares during the quarter. Principal Financial Group Inc. owned about 0.15% of Jacobs Solutions worth $22,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Colonial Trust Co SC boosted its position in shares of Jacobs Solutions by 10,250.0% during the fourth quarter. Colonial Trust Co SC now owns 207 shares of the company's stock valued at $28,000 after purchasing an additional 205 shares in the last quarter. Avalon Trust Co purchased a new position in Jacobs Solutions during the fourth quarter valued at $33,000. Rossby Financial LCC purchased a new position in Jacobs Solutions during the first quarter valued at $33,000. Larson Financial Group LLC raised its stake in Jacobs Solutions by 71.9% during the fourth 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 last quarter. Finally, Assetmark Inc. raised its stake in Jacobs Solutions by 42.7% during the fourth quarter. Assetmark Inc. now owns 334 shares of the company's stock valued at $45,000 after buying an additional 100 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on J. Truist Financial lifted their price objective on Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Citigroup lowered their price target on Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Royal Bank Of Canada upped their price target on Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, UBS Group lowered their price target on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.86.

Jacobs Solutions Price Performance

Jacobs Solutions stock traded down $1.04 during midday trading on Friday, reaching $135.17. 527,896 shares of the stock traded hands, compared to its average volume of 800,334. The stock's fifty day moving average is $128.02 and its 200-day moving average is $127.55. Jacobs Solutions Inc. has a 12 month low of $106.23 and a 12 month high of $156.31. The stock has a market cap of $16.24 billion, a P/E ratio of 37.24, a PEG ratio of 1.92 and a beta of 0.77. 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 (NYSE:J - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $3 billion. Jacobs Solutions had a return on equity of 15.67% and a net margin of 3.53%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company earned $1.91 EPS. As a group, equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were issued a $0.32 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.28 annualized dividend and a dividend yield of 0.95%. Jacobs Solutions's payout ratio is 35.26%.

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.