Allstate Corp Purchases New Shares in Jacobs Solutions Inc. (NYSE:J)

Allstate Corp bought a new position in Jacobs Solutions Inc. (NYSE:J - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,562 shares of the company's stock, valued at approximately $476,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC raised its position in shares of Jacobs Solutions by 0.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 11,006 shares of the company's stock worth $1,471,000 after buying an additional 83 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Jacobs Solutions by 1.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 39,161 shares of the company's stock valued at $5,233,000 after acquiring an additional 504 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Jacobs Solutions during the 4th quarter valued at about $7,777,000. Blair William & Co. IL grew its holdings in shares of Jacobs Solutions by 4.8% during the fourth quarter. Blair William & Co. IL now owns 55,234 shares of the company's stock worth $7,380,000 after purchasing an additional 2,509 shares in the last quarter. Finally, NEOS Investment Management LLC increased its position in shares of Jacobs Solutions by 27.5% in the fourth quarter. NEOS Investment Management LLC now owns 5,747 shares of the company's stock worth $768,000 after purchasing an additional 1,241 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company's stock.

Jacobs Solutions Trading Down 5.9 %

Jacobs Solutions stock traded down $7.01 during mid-day trading on Friday, hitting $111.47. The company's stock had a trading volume of 1,035,832 shares, compared to its average volume of 757,139. The business has a 50 day moving average price of $127.24 and a 200-day moving average price of $135.07. Jacobs Solutions Inc. has a 12 month low of $110.90 and a 12 month high of $156.31. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25.

Remove Ads

Jacobs Solutions (NYSE:J - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the company posted $1.45 EPS. Jacobs Solutions's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were issued a $0.32 dividend. This is a boost 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 1.15%. Jacobs Solutions's dividend payout ratio (DPR) is currently 26.39%.

Jacobs Solutions declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on J shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Truist Financial lifted their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Citigroup reduced their target price on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Finally, Robert W. Baird dropped their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $153.86.

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.