Jacobs Solutions Inc. (NYSE:J) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC cut its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 33.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,180 shares of the company’s stock after selling 5,743 shares during the period. Legato Capital Management LLC’s holdings in Jacobs Solutions were worth $1,494,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Jacobs Solutions by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock valued at $410,444,000 after purchasing an additional 73,566 shares during the last quarter. Ninety One UK Ltd raised its holdings in shares of Jacobs Solutions by 29.2% in the fourth 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. Kovitz Investment Group Partners LLC lifted its stake in shares of Jacobs Solutions by 3.2% during the third quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock worth $143,263,000 after buying an additional 32,650 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Jacobs Solutions by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 760,516 shares of the company’s stock valued at $99,552,000 after buying an additional 14,405 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Jacobs Solutions by 19.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company’s stock valued at $85,099,000 after buying an additional 107,849 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

J opened at $130.19 on Thursday. The firm has a fifty day moving average price of $135.96 and a 200 day moving average price of $140.71. Jacobs Solutions Inc. has a 1 year low of $110.95 and a 1 year high of $150.54. The stock has a market cap of $15.95 billion, a P/E ratio of 26.84, a P/E/G ratio of 1.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.20.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 4th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be issued a $0.32 dividend. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio (DPR) is presently 23.92%.

Wall Street Analysts Forecast Growth

J has been the subject of a number of research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Truist Financial upped their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. StockNews.com began coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Finally, Robert W. Baird dropped their price objective 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. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $155.89.

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.