Bridgewater Associates LP Sells 78,903 Shares of Jacobs Solutions Inc. (NYSE:J)

Bridgewater Associates LP reduced its position in Jacobs Solutions Inc. (NYSE:J) by 61.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 48,532 shares of the company’s stock after selling 78,903 shares during the period. Bridgewater Associates LP’s holdings in Jacobs Solutions were worth $6,353,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in J. Sei Investments Co. boosted its position in Jacobs Solutions by 32.1% during the 2nd quarter. Sei Investments Co. now owns 271,760 shares of the company’s stock valued at $37,968,000 after acquiring an additional 66,002 shares in the last quarter. Aigen Investment Management LP bought a new stake in Jacobs Solutions during the third quarter valued at about $709,000. Asset Management One Co. Ltd. grew its stake in Jacobs Solutions by 6.8% in the third quarter. Asset Management One Co. Ltd. now owns 76,308 shares of the company’s stock valued at $9,989,000 after purchasing an additional 4,858 shares during the last quarter. MBB Public Markets I LLC bought a new position in Jacobs Solutions in the second quarter worth about $1,302,000. Finally, Marks Group Wealth Management Inc lifted its position in shares of Jacobs Solutions by 13.6% during the third quarter. Marks Group Wealth Management Inc now owns 64,074 shares of the company’s stock valued at $8,387,000 after buying an additional 7,695 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Performance

J opened at $140.96 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.30. Jacobs Solutions Inc. has a 12-month low of $104.90 and a 12-month high of $150.54. The firm has a 50 day moving average of $141.51 and a two-hundred day moving average of $142.33. The firm has a market capitalization of $17.47 billion, a PE ratio of 22.27, a P/E/G ratio of 2.13 and a beta of 0.71.

Jacobs Solutions (NYSE:J) last posted its 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). The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $4.50 billion. Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 earnings per share. On average, analysts anticipate that Jacobs Solutions Inc. will post 6.06 EPS for the current year.

Jacobs Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, October 25th. Jacobs Solutions’s dividend payout ratio (DPR) is 18.33%.

Analyst Upgrades and Downgrades

J has been the subject of several recent analyst reports. Truist Financial reduced their price objective on shares of Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. Citigroup lowered their price objective on Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, November 20th. Royal Bank of Canada reduced their target price on Jacobs Solutions from $167.00 to $152.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Raymond James raised Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price target for the company in a report on Friday, October 4th. Finally, Robert W. Baird upped their price objective on shares of Jacobs Solutions from $147.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Jacobs Solutions currently 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.