Prentice Wealth Management LLC Reduces Stock Position in Jacobs Solutions Inc. (NYSE:J)

Prentice Wealth Management LLC decreased its position in Jacobs Solutions Inc. (NYSE:J) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,245 shares of the company’s stock after selling 313 shares during the quarter. Prentice Wealth Management LLC’s holdings in Jacobs Solutions were worth $434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of J. Heritage Family Offices LLP lifted its stake in Jacobs Solutions by 55.7% in the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock worth $1,993,000 after acquiring an additional 5,332 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Jacobs Solutions by 1.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock worth $1,305,000 after purchasing an additional 175 shares in the last quarter. Occidental Asset Management LLC lifted its position in shares of Jacobs Solutions by 11.7% in the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock worth $3,347,000 after purchasing an additional 2,619 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Jacobs Solutions by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock valued at $56,778,000 after purchasing an additional 47,211 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Jacobs Solutions during the third quarter valued at about $3,205,000. 85.65% of the stock is owned by institutional investors.

Jacobs Solutions Stock Performance

Shares of J opened at $129.12 on Friday. The firm has a market capitalization of $15.82 billion, a P/E ratio of 26.62, a PEG ratio of 1.84 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 1.25. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54. The business has a fifty day moving average of $134.83 and a 200 day moving average of $139.96.

Jacobs Solutions (NYSE:J) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the company posted $1.45 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a $0.32 dividend. The ex-dividend date is Friday, February 21st. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 0.99%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 23.92%.

Jacobs Solutions announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on J shares. Truist Financial raised their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. StockNews.com started coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Finally, Benchmark lowered Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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.