Keene & Associates Inc. Takes Position in Jacobs Solutions Inc. (NYSE:J)

Keene & Associates Inc. bought a new position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,247 shares of the company's stock, valued at approximately $2,973,000. Jacobs Solutions makes up about 2.4% of Keene & Associates Inc.'s portfolio, making the stock its 21st largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. First Horizon Advisors Inc. boosted its holdings in Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company's stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Empirical Finance LLC boosted its holdings in Jacobs Solutions by 1.9% during the third quarter. Empirical Finance LLC now owns 4,358 shares of the company's stock worth $570,000 after purchasing an additional 82 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in Jacobs Solutions by 4.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company's stock worth $293,000 after purchasing an additional 86 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Jacobs Solutions by 10.6% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company's stock valued at $128,000 after buying an additional 92 shares during the last quarter. Finally, Greenleaf Trust lifted its holdings in Jacobs Solutions by 3.5% during the fourth quarter. Greenleaf Trust now owns 2,773 shares of the company's stock worth $371,000 after acquiring an additional 95 shares during the period. 85.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $152.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Robert W. Baird decreased their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. StockNews.com initiated coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They issued a "hold" rating on the stock. Citigroup reduced their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, Benchmark cut shares of Jacobs Solutions from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $155.89.

Jacobs Solutions Stock Performance

Shares of NYSE:J traded down $0.69 during midday trading on Friday, reaching $129.12. 1,583,616 shares of the company traded hands, compared to its average volume of 779,594. Jacobs Solutions Inc. has a 12 month low of $110.95 and a 12 month high of $150.54. The firm's fifty day moving average price is $134.99 and its two-hundred day moving average price is $140.03. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $15.82 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 1.84 and a beta of 0.72.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.04. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 earnings per share. On average, equities analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

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

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be given a dividend of $0.32 per share. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, February 21st. Jacobs Solutions's payout ratio is 23.92%.

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.