TCW Group Inc. Sells 2,915 Shares of Jacobs Solutions Inc. (NYSE:J)

Key Points

• TCW Group Inc. reduced its stake in Jacobs Solutions Inc. by 13.1%, selling 2,915 shares, leaving it with a total of 19,397 shares valued at approximately $2,345,000.
• Several analysts have raised their price targets for Jacobs Solutions, with Citigroup increasing from $147.47 to $166.00 and maintaining a "buy" rating.
• Jacobs Solutions declared a quarterly dividend of $0.32 per share, resulting in an annualized yield of 0.89% with a payout ratio of 35.26%.

TCW Group Inc. reduced its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 13.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,397 shares of the company's stock after selling 2,915 shares during the quarter. TCW Group Inc.'s holdings in Jacobs Solutions were worth $2,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of J. Colonial Trust Co SC increased its position in 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 acquiring an additional 205 shares during the last quarter. Rossby Financial LCC purchased a new stake in Jacobs Solutions during the first quarter valued at $33,000. Whipplewood Advisors LLC increased its position in Jacobs Solutions by 1,685.7% during the first quarter. Whipplewood Advisors LLC now owns 375 shares of the company's stock valued at $45,000 after acquiring an additional 354 shares during the last quarter. Optiver Holding B.V. increased its position in Jacobs Solutions by 113.8% during the fourth quarter. Optiver Holding B.V. now owns 357 shares of the company's stock valued at $48,000 after acquiring an additional 190 shares during the last quarter. Finally, Transce3nd LLC purchased a new stake in Jacobs Solutions during the fourth quarter valued at $53,000. 85.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup upped their price target on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a research report on Monday. Truist Financial upped their price target on Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. UBS Group reduced 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. Royal Bank Of Canada upped their price target on Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, KeyCorp upgraded Jacobs Solutions from a "sector weight" rating to an "overweight" rating and set a $155.00 price target for the company in a research report on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Jacobs Solutions currently has a consensus rating of "Moderate Buy" and an average price target of $153.25.

Jacobs Solutions Stock Down 0.1%

NYSE J opened at $143.29 on Tuesday. The stock's 50 day moving average is $131.11 and its 200 day moving average is $127.90. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.68. Jacobs Solutions Inc. has a 12 month low of $106.23 and a 12 month high of $150.54. The stock has a market cap of $17.22 billion, a PE ratio of 39.47, a P/E/G ratio of 2.02 and a beta of 0.77.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. Jacobs Solutions had a return on equity of 15.67% and a net margin of 3.53%. The company had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $3 billion. During the same period in the previous year, the firm earned $1.91 EPS. The firm's revenue was up 2.2% compared to the same quarter last year. Research analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 23rd were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Friday, May 23rd. Jacobs Solutions's payout ratio is presently 35.26%.

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.

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