Corebridge Financial Inc. Has $3.93 Million Stock Position in Jacobs Solutions Inc. (NYSE:J)

Corebridge Financial Inc. lessened its stake in Jacobs Solutions Inc. (NYSE:J) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,413 shares of the company’s stock after selling 1,671 shares during the quarter. Corebridge Financial Inc.’s holdings in Jacobs Solutions were worth $3,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Avalon Trust Co acquired a new position in shares of Jacobs Solutions during the fourth quarter valued at $33,000. Larson Financial Group LLC lifted its position in Jacobs Solutions by 71.9% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock valued at $37,000 after purchasing an additional 115 shares during the period. Quarry LP boosted its stake in shares of Jacobs Solutions by 394.9% in the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after purchasing an additional 233 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Jacobs Solutions during the 3rd quarter worth approximately $44,000. Finally, Assetmark Inc. grew its position in shares of Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company’s stock worth $45,000 after buying an additional 100 shares during the period. 85.65% of the stock is owned by institutional investors.

Jacobs Solutions Price Performance

Shares of J opened at $121.25 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $14.86 billion, a PE ratio of 25.00, a P/E/G ratio of 1.84 and a beta of 0.77. The stock has a 50 day simple moving average of $129.38 and a 200 day simple moving average of $135.94. Jacobs Solutions Inc. has a 52-week low of $118.71 and a 52-week high of $156.31.

Jacobs Solutions (NYSE:J) last released 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. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the company earned $1.45 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were paid a $0.32 dividend. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 1.06%. Jacobs Solutions’s dividend payout ratio (DPR) is currently 26.39%.

Jacobs Solutions declared that its Board of Directors has authorized a stock repurchase program on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on J shares. Truist Financial raised their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 10th. Robert W. Baird reduced their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. StockNews.com began coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, Citigroup cut their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Jacobs Solutions currently has an average rating of “Hold” and a consensus target price of $153.63.

About Jacobs Solutions

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.