Allworth Financial LP Buys 3,219 Shares of Jacobs Solutions Inc. (NYSE:J)

Allworth Financial LP lifted its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 74.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,558 shares of the company's stock after purchasing an additional 3,219 shares during the period. Allworth Financial LP's holdings in Jacobs Solutions were worth $1,070,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Heritage Family Offices LLP lifted its holdings in Jacobs Solutions by 55.7% in the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company's stock valued at $1,993,000 after buying an additional 5,332 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Jacobs Solutions by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company's stock valued at $1,305,000 after buying an additional 175 shares during the period. Occidental Asset Management LLC increased its stake in Jacobs Solutions by 11.7% in the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company's stock valued at $3,347,000 after purchasing an additional 2,619 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Jacobs Solutions by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company's stock valued at $56,778,000 after purchasing an additional 47,211 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Jacobs Solutions in the third quarter valued at approximately $3,205,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They issued a "hold" rating for the company. Citigroup lowered 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 note on Wednesday, January 29th. The Goldman Sachs Group reissued a "neutral" rating and set a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Benchmark downgraded shares of Jacobs Solutions from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Finally, Truist Financial increased their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a research report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $155.89.

Jacobs Solutions Stock Down 0.7 %

J stock traded down $0.95 during midday trading on Friday, hitting $128.86. The company's stock had a trading volume of 683,496 shares, compared to its average volume of 771,659. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. Jacobs Solutions Inc. has a twelve month low of $110.95 and a twelve month high of $150.54. The company's fifty day moving average price is $134.99 and its 200 day moving average price is $140.03. The stock has a market capitalization of $15.79 billion, a P/E ratio of 26.55, a PEG ratio of 1.84 and a beta of 0.72.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) 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 firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the business earned $1.45 EPS. The company's revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

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

Jacobs Solutions Increases Dividend

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

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.