Royal Bank of Canada Sells 121,903 Shares of Jacobs Solutions Inc. $J

Key Points

• Royal Bank of Canada reduced its holdings in Jacobs Solutions Inc. by 11.6% during Q1, now owning approximately 0.77% of the company worth $111.81 million.
• Jacobs Solutions reported a quarterly earnings per share (EPS) of $1.62, beating estimates, but its revenue of $3.03 billion fell short of expectations.
• Several analysts upgraded Jacobs Solutions’ stock ratings, with target prices raised by firms including Citigroup and UBS Group to as high as $166.00.

Royal Bank of Canada decreased its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 11.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 924,903 shares of the company's stock after selling 121,903 shares during the quarter. Royal Bank of Canada owned approximately 0.77% of Jacobs Solutions worth $111,811,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its position in shares of Jacobs Solutions by 933.6% in the fourth quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company's stock worth $281,808,000 after buying an additional 1,904,988 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Jacobs Solutions by 148.2% in the 4th quarter. Deutsche Bank AG now owns 664,564 shares of the company's stock worth $88,799,000 after acquiring an additional 396,759 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Jacobs Solutions in the first quarter worth about $43,251,000. Vontobel Holding Ltd. raised its position in shares of Jacobs Solutions by 639.3% in the 1st quarter. Vontobel Holding Ltd. now owns 342,251 shares of the company's stock worth $41,375,000 after acquiring an additional 295,957 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Jacobs Solutions by 22,889.3% during the 1st quarter. GAMMA Investing LLC now owns 275,871 shares of the company's stock valued at $33,350,000 after acquiring an additional 274,671 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

J has been the subject of several research reports. Wall Street Zen upgraded shares of Jacobs Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Truist Financial boosted their target price on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Citigroup raised their target price on Jacobs Solutions from $147.47 to $166.00 and gave the company a "buy" rating in a research report on Monday, July 28th. UBS Group lifted their target price on Jacobs Solutions from $152.00 to $166.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Jacobs Solutions presently has an average rating of "Moderate Buy" and a consensus target price of $155.25.

Jacobs Solutions Stock Performance

Jacobs Solutions stock traded down $0.81 during midday trading on Monday, reaching $144.61. 245,570 shares of the company traded hands, compared to its average volume of 804,796. The firm has a market capitalization of $17.29 billion, a price-to-earnings ratio of 35.97, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.39 and a quick ratio of 1.39. The business has a 50 day moving average of $142.07 and a two-hundred day moving average of $130.06. Jacobs Solutions Inc. has a 12 month low of $106.23 and a 12 month high of $152.40.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly 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. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.09 billion. Jacobs Solutions had a net margin of 4.16% and a return on equity of 17.13%. The firm's revenue was down 28.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 earnings per share. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. As a group, research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 22nd. Jacobs Solutions's dividend 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.