Investment Management Corp of Ontario Sells 8,313 Shares of Jacobs Solutions Inc. (NYSE:J)

Investment Management Corp of Ontario decreased its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 30.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,743 shares of the company's stock after selling 8,313 shares during the quarter. Investment Management Corp of Ontario's holdings in Jacobs Solutions were worth $2,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC raised its holdings in shares of Jacobs Solutions by 345.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company's stock valued at $619,676,000 after purchasing an additional 3,597,564 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Jacobs Solutions by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 3,155,839 shares of the company's stock worth $420,626,000 after purchasing an additional 10,174 shares during the period. Ninety One UK Ltd increased its holdings in shares of Jacobs Solutions by 29.2% during the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock worth $265,649,000 after purchasing an additional 449,161 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Jacobs Solutions by 9.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,809,207 shares of the company's stock valued at $241,746,000 after acquiring an additional 157,086 shares during the period. Finally, Bank of America Corp DE increased its stake in Jacobs Solutions by 4.1% in the fourth quarter. Bank of America Corp DE now owns 1,782,488 shares of the company's stock valued at $238,176,000 after acquiring an additional 70,470 shares during the period. 85.65% of the stock is owned by institutional investors and hedge funds.

Jacobs Solutions Price Performance

NYSE J traded up $2.52 during trading on Thursday, hitting $128.74. 862,012 shares of the company's stock were exchanged, compared to its average volume of 802,328. The company has a market cap of $15.47 billion, a PE ratio of 26.54, a P/E/G ratio of 1.84 and a beta of 0.77. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock's 50 day moving average price is $120.64 and its two-hundred day moving average price is $130.59. Jacobs Solutions Inc. has a fifty-two week low of $106.23 and a fifty-two week high of $156.31.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 EPS. Research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 23rd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, May 23rd. Jacobs Solutions's dividend payout ratio is presently 35.26%.

Jacobs Solutions announced that its board has approved a share buyback program on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have weighed in on J. Royal Bank of Canada upped their price objective on shares of Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Robert W. Baird cut their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Citigroup decreased their target price on shares of Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Truist Financial boosted their price objective on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research note on Monday. Finally, UBS Group cut their target price on shares of Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Jacobs Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $150.86.

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.