Jacobs Solutions Inc. (NYSE:J) Stake Lowered by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lowered its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 98.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,461 shares of the company's stock after selling 161,223 shares during the period. Balyasny Asset Management L.P.'s holdings in Jacobs Solutions were worth $329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kovitz Investment Group Partners LLC boosted its stake in Jacobs Solutions by 345.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company's stock valued at $619,676,000 after acquiring an additional 3,597,564 shares during the period. Ninety One UK Ltd grew its stake in 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 buying an additional 449,161 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Jacobs Solutions by 15,913.6% during the 4th quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company's stock worth $59,977,000 after buying an additional 446,057 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Jacobs Solutions by 40.3% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,007,612 shares of the company's stock worth $134,637,000 after buying an additional 289,573 shares during the period. Finally, Natixis Advisors LLC lifted its stake in Jacobs Solutions by 138.9% in the fourth quarter. Natixis Advisors LLC now owns 479,452 shares of the company's stock valued at $64,065,000 after buying an additional 278,777 shares during the last quarter. Institutional investors own 85.65% of the company's stock.

Jacobs Solutions Price Performance

Jacobs Solutions stock traded down $0.78 during midday trading on Tuesday, hitting $128.07. The company's stock had a trading volume of 442,744 shares, compared to its average volume of 802,464. Jacobs Solutions Inc. has a 12 month low of $106.23 and a 12 month high of $156.31. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock's 50-day moving average price is $121.02 and its 200-day moving average price is $130.19. The company has a market capitalization of $15.39 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.41 by $0.02. The business had revenue of $2.91 billion during 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 business's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.91 earnings per share. Analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.28 annualized dividend and a yield of 1.00%. Jacobs Solutions's payout ratio is presently 35.26%.

Jacobs Solutions declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group dropped their price objective on shares of Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Citigroup cut their price target on Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a report on Friday, April 25th. 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 report on Wednesday, May 7th. Truist Financial lifted their target price on Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Finally, Robert W. Baird reduced their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.86.

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.