Jacobs Solutions Inc. (NYSE:J) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Jacobs Solutions by 0.5%, owning 13,839,164 shares worth approximately $1.67 billion at the end of the first quarter.
• Several analysts have raised their price targets for Jacobs Solutions, with Citigroup and UBS Group both setting new price objectives of $166.00 and maintaining a "buy" rating.
• Jacobs Solutions reported $1.62 earnings per share for the latest quarter, exceeding estimates, but experienced a 28.4% year-over-year revenue decline.

Vanguard Group Inc. trimmed its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 0.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,839,164 shares of the company's stock after selling 70,860 shares during the quarter. Vanguard Group Inc. owned about 11.29% of Jacobs Solutions worth $1,673,017,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in J. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Jacobs Solutions by 21.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,894 shares of the company's stock valued at $1,684,000 after acquiring an additional 2,457 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Jacobs Solutions by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 127,215 shares of the company's stock valued at $15,379,000 after acquiring an additional 3,451 shares during the period. Gibraltar Capital Management Inc. boosted its holdings in shares of Jacobs Solutions by 13.9% in the first quarter. Gibraltar Capital Management Inc. now owns 56,003 shares of the company's stock valued at $6,770,000 after acquiring an additional 6,824 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of Jacobs Solutions by 12.7% in the first quarter. DAVENPORT & Co LLC now owns 19,776 shares of the company's stock valued at $2,391,000 after acquiring an additional 2,222 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in shares of Jacobs Solutions by 5.5% in the fourth quarter. Evergreen Capital Management LLC now owns 69,123 shares of the company's stock valued at $9,236,000 after acquiring an additional 3,609 shares during the period. 85.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on J shares. KeyCorp upped their price target on Jacobs Solutions from $155.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. UBS Group increased their price objective on Jacobs Solutions from $152.00 to $166.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada increased their price objective on Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Truist Financial increased their price objective on Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Finally, Citigroup increased their price objective on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Jacobs Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $155.25.

Jacobs Solutions Stock Down 2.4%

Shares of NYSE:J traded down $3.62 during mid-day trading on Thursday, hitting $148.57. 236,685 shares of the company traded hands, compared to its average volume of 822,945. The firm has a market cap of $17.76 billion, a P/E ratio of 37.06, a PEG ratio of 2.03 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. Jacobs Solutions Inc. has a 52-week low of $106.23 and a 52-week high of $152.40. The firm's 50 day simple moving average is $135.64 and its 200 day simple moving average is $128.58.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its 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. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the business posted $1.96 EPS. The company's revenue was down 28.4% on a year-over-year basis. On average, equities analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders 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 payout ratio is currently 31.92%.

Jacobs Solutions 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.