Thrivent Financial for Lutherans Sells 8,337 Shares of Jacobs Solutions Inc. (NYSE:J)

Thrivent Financial for Lutherans reduced its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 528,678 shares of the company’s stock after selling 8,337 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Jacobs Solutions were worth $70,662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in 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 period. Ninety One UK Ltd boosted its stake in Jacobs Solutions by 29.2% in the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock valued at $265,649,000 after purchasing an additional 449,161 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in Jacobs Solutions by 3.2% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock valued at $143,263,000 after purchasing an additional 32,650 shares during the period. Bank of New York Mellon Corp boosted its stake in Jacobs Solutions by 9.6% in the 4th quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock valued at $119,724,000 after purchasing an additional 78,284 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Jacobs Solutions by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company’s stock valued at $103,941,000 after purchasing an additional 17,372 shares during the period. 85.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup reduced their price target on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com assumed coverage on Jacobs Solutions in a report on Wednesday, December 4th. They issued a “hold” rating for the company. Benchmark cut Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Truist Financial lifted their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $153.63.

Jacobs Solutions Price Performance

Jacobs Solutions stock opened at $122.65 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. Jacobs Solutions Inc. has a 52 week low of $118.71 and a 52 week high of $156.31. The stock has a market capitalization of $15.03 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The stock has a fifty day moving average of $131.36 and a 200-day moving average of $137.19.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. Jacobs Solutions’s revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.04%. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is currently 26.39%.

Jacobs Solutions announced that its Board of Directors has authorized a share repurchase program on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Jacobs Solutions Company 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.