Mutual of America Capital Management LLC Sells 26,093 Shares of Jacobs Solutions Inc. (NYSE:J)

Mutual of America Capital Management LLC lessened its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 63.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,863 shares of the company’s stock after selling 26,093 shares during the period. Mutual of America Capital Management LLC’s holdings in Jacobs Solutions were worth $1,986,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ninety One UK Ltd boosted its position in shares of 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 acquiring an additional 449,161 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Jacobs Solutions by 15,913.6% during the fourth quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company’s stock worth $59,977,000 after purchasing an additional 446,057 shares during the last quarter. Sessa Capital IM L.P. acquired a new stake in shares of Jacobs Solutions in the 3rd quarter valued at $46,168,000. Soros Fund Management LLC boosted its holdings in shares of Jacobs Solutions by 34.3% in the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock valued at $65,569,000 after purchasing an additional 127,874 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Jacobs Solutions by 28.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock valued at $70,296,000 after purchasing an additional 117,940 shares during the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on J shares. Truist Financial upped their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Citigroup decreased their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. The Goldman Sachs Group reissued a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.89.

Jacobs Solutions Stock Up 0.8 %

Shares of NYSE:J opened at $124.62 on Friday. The firm has a market cap of $15.27 billion, a P/E ratio of 25.69, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54. The business has a fifty day simple moving average of $132.92 and a 200 day simple moving average of $138.69. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

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

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be given a $0.32 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.03%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is 26.39%.

Jacobs Solutions declared 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 shares. This buyback authorization permits the company to buy up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.