Jacobs Solutions (NYSE:J) Shares Down 4.1% Following Weak Earnings

Jacobs Solutions Inc. (NYSE:J)’s stock price fell 4.1% on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $133.85 and last traded at $134.64. 396,630 shares were traded during trading, a decline of 50% from the average session volume of 798,293 shares. The stock had previously closed at $140.35.

The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.71). The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $4.50 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.90 earnings per share.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, October 25th. This represents a $1.16 annualized dividend and a yield of 0.87%. Jacobs Solutions’s dividend payout ratio is 22.92%.

Analyst Ratings Changes

Several brokerages have recently commented on J. UBS Group boosted their target price on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Robert W. Baird cut their price target on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Raymond James raised shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price objective on the stock in a report on Friday, October 4th. Truist Financial dropped their target price 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. Finally, Citigroup increased their price target on shares of Jacobs Solutions from $138.60 to $166.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.30.

Insider Buying and Selling at Jacobs Solutions

In related news, Director Christopher M.T. Thompson sold 1,898 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $150.85, for a total transaction of $286,313.30. Following the transaction, the director now directly owns 42,069 shares in the company, valued at approximately $6,346,108.65. The trade was a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shelette M. Gustafson sold 4,167 shares of Jacobs Solutions stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $150.14, for a total transaction of $625,633.38. Following the completion of the transaction, the executive vice president now directly owns 24,564 shares of the company’s stock, valued at approximately $3,688,038.96. This trade represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Jacobs Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. TCW Group Inc. increased its holdings in shares of Jacobs Solutions by 36.7% in the third quarter. TCW Group Inc. now owns 15,569 shares of the company’s stock valued at $2,038,000 after purchasing an additional 4,180 shares during the last quarter. Toronto Dominion Bank raised its holdings in Jacobs Solutions by 14.5% in the 3rd quarter. Toronto Dominion Bank now owns 62,721 shares of the company’s stock valued at $8,210,000 after acquiring an additional 7,943 shares during the period. Neo Ivy Capital Management acquired a new stake in Jacobs Solutions during the third quarter worth approximately $2,402,000. Coldstream Capital Management Inc. boosted its holdings in shares of Jacobs Solutions by 19.9% during the third quarter. Coldstream Capital Management Inc. now owns 2,464 shares of the company’s stock worth $324,000 after acquiring an additional 409 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Jacobs Solutions by 2.4% in the third quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock valued at $410,444,000 after purchasing an additional 73,566 shares during the last quarter. Institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

The company has a market cap of $16.64 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. The stock has a 50 day moving average price of $142.76 and a two-hundred day moving average price of $142.59. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31.

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.