Third Point LLC Has $169.25 Million Position in Jacobs Solutions Inc. $J

Key Points

• Third Point LLC reduced its stake in Jacobs Solutions Inc. by 15.2%, owning now 1.4 million shares valued at approximately $169.25 million, making it the 15th largest position in their portfolio.
• Jacobs Solutions reported earnings of $1.62 per share for the last quarter, slightly exceeding analysts' expectations, although revenue was down 28.4% year-over-year.
• The company declared a quarterly dividend of $0.32 per share, set to be paid on September 19th, with an annual yield of 0.9%.

Third Point LLC lessened its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 15.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,400,000 shares of the company's stock after selling 250,000 shares during the period. Jacobs Solutions comprises about 2.6% of Third Point LLC's portfolio, making the stock its 15th biggest position. Third Point LLC owned 1.17% of Jacobs Solutions worth $169,246,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Ninety One UK Ltd boosted its holdings in Jacobs Solutions by 9.5% in the first quarter. Ninety One UK Ltd now owns 2,176,944 shares of the company's stock valued at $263,171,000 after acquiring an additional 188,852 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Jacobs Solutions by 5.3% in the 1st quarter. Invesco Ltd. now owns 2,147,078 shares of the company's stock valued at $259,560,000 after purchasing an additional 108,366 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Jacobs Solutions by 933.6% during 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 period. Royal Bank of Canada increased its position in shares of Jacobs Solutions by 27.7% during the fourth quarter. Royal Bank of Canada now owns 1,046,806 shares of the company's stock worth $139,875,000 after buying an additional 227,047 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Jacobs Solutions by 8.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 903,698 shares of the company's stock worth $120,752,000 after buying an additional 71,248 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Trading Up 1.1%

NYSE:J opened at $145.39 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.39 and a quick ratio of 1.39. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $152.40. The company has a market cap of $17.38 billion, a PE ratio of 36.26, a PEG ratio of 1.97 and a beta of 0.79. The firm has a 50-day moving average of $142.07 and a 200-day moving average of $130.06.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. The business had revenue of $3.03 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 28.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 EPS. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. As a group, equities research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.28 annualized dividend and a yield of 0.9%. Jacobs Solutions's dividend payout ratio is 31.92%.

Wall Street Analysts Forecast Growth

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

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