Bridgewater Associates LP Cuts Stake in Jacobs Solutions Inc. (NYSE:J)

Bridgewater Associates LP lessened its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 61.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,532 shares of the company’s stock after selling 78,903 shares during the quarter. Bridgewater Associates LP’s holdings in Jacobs Solutions were worth $6,353,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Tlwm raised its position in shares of Jacobs Solutions by 1.2% during the second quarter. Tlwm now owns 6,046 shares of the company’s stock valued at $845,000 after buying an additional 74 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Jacobs Solutions by 44.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after acquiring an additional 74 shares during the last quarter. Hudson Edge Investment Partners Inc. lifted its stake in Jacobs Solutions by 1.4% in the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 5,967 shares of the company’s stock worth $834,000 after purchasing an additional 82 shares in the last quarter. Empirical Finance LLC lifted its stake in Jacobs Solutions by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 4,358 shares of the company’s stock worth $570,000 after purchasing an additional 82 shares in the last quarter. Finally, OneDigital Investment Advisors LLC boosted its holdings in shares of Jacobs Solutions by 4.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock valued at $293,000 after purchasing an additional 86 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Performance

Jacobs Solutions stock opened at $140.96 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 1.14. The firm has a market capitalization of $17.47 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71. Jacobs Solutions Inc. has a 1-year low of $104.90 and a 1-year high of $150.54. The company’s 50-day moving average is $141.51 and its 200 day moving average is $142.33.

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

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Friday, October 25th. Jacobs Solutions’s payout ratio is presently 18.33%.

Analysts Set New Price Targets

J has been the topic of a number of research analyst reports. UBS Group boosted their target price on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Truist Financial decreased their price objective on Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Raymond James raised shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a report on Friday, October 4th. Royal Bank of Canada lowered their price objective on shares of Jacobs Solutions from $167.00 to $152.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Finally, Citigroup reduced their target price on shares of Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, November 20th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.