OLD National Bancorp IN Decreases Stake in Jacobs Solutions Inc. (NYSE:J)

OLD National Bancorp IN lowered its stake in Jacobs Solutions Inc. (NYSE:J) by 21.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,988 shares of the company’s stock after selling 547 shares during the period. OLD National Bancorp IN’s holdings in Jacobs Solutions were worth $240,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. National Bank of Canada FI increased its holdings in Jacobs Solutions by 956.8% in the fourth quarter. National Bank of Canada FI now owns 264,824 shares of the company’s stock valued at $35,386,000 after buying an additional 239,764 shares in the last quarter. Keene & Associates Inc. purchased a new position in Jacobs Solutions in the fourth quarter valued at $2,973,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Jacobs Solutions by 34.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,437 shares of the company’s stock valued at $1,545,000 after buying an additional 2,949 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in Jacobs Solutions by 5.5% in the fourth quarter. Evergreen Capital Management LLC now owns 69,123 shares of the company’s stock valued at $9,236,000 after buying an additional 3,609 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Jacobs Solutions by 31.7% in the fourth quarter. CIBC Asset Management Inc now owns 23,991 shares of the company’s stock valued at $3,206,000 after buying an additional 5,774 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Trading Down 0.3%

NYSE J opened at $127.35 on Wednesday. The company has a market capitalization of $15.30 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The firm’s fifty day moving average price is $122.39 and its 200 day moving average price is $128.59. 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 12 month low of $106.23 and a 12 month high of $156.31.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the business earned $1.91 EPS. Jacobs Solutions’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 23rd will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, May 23rd. Jacobs Solutions’s dividend payout ratio (DPR) is 35.26%.

Analyst Upgrades and Downgrades

J has been the topic of several research analyst reports. Citigroup dropped their target price on shares of Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Royal Bank of Canada lifted their target price on shares of Jacobs Solutions from $152.00 to $154.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. UBS Group lowered their price target on shares of Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, Truist Financial boosted their price target on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.86.

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.