BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 3,173 Shares of Jacobs Solutions Inc. (NYSE:J)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in Jacobs Solutions Inc. (NYSE:J) by 13.2% in the 3rd quarter, Holdings Channel reports. The firm owned 20,892 shares of the company’s stock after selling 3,173 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Jacobs Solutions were worth $2,735,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Verition Fund Management LLC boosted its stake in shares of Jacobs Solutions by 249.4% during the third quarter. Verition Fund Management LLC now owns 72,885 shares of the company’s stock valued at $9,541,000 after purchasing an additional 52,024 shares during the period. Captrust Financial Advisors grew its stake in Jacobs Solutions by 4.5% in the third quarter. Captrust Financial Advisors now owns 24,601 shares of the company’s stock worth $3,220,000 after purchasing an additional 1,059 shares during the period. Financial Counselors Inc. bought a new position in shares of Jacobs Solutions in the 3rd quarter worth about $722,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 purchasing an additional 107,849 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Jacobs Solutions by 412.3% during the third quarter. Public Sector Pension Investment Board now owns 24,105 shares of the company’s stock valued at $3,155,000 after buying an additional 19,400 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Price Performance

NYSE:J opened at $138.27 on Thursday. The firm’s fifty day moving average is $140.78 and its two-hundred day moving average is $142.39. The firm has a market cap of $17.14 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 2.11 and a beta of 0.70. Jacobs Solutions Inc. has a one year low of $104.90 and a one year high of $150.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.20 and a current ratio of 1.20.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, November 19th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.71). Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter in the prior year, the company posted $1.90 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts expect that Jacobs Solutions Inc. will post 6.06 EPS for the current year.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Friday, October 25th. Jacobs Solutions’s payout ratio is currently 18.33%.

Analyst Ratings Changes

Several research firms have recently weighed in on J. Raymond James upgraded Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price target for the company in a research note on Friday, October 4th. Truist Financial dropped their price target on shares of Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday. Citigroup cut their price target on Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, November 20th. Finally, Benchmark cut shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.