2,236 Shares in Jacobs Solutions Inc. (NYSE:J) Purchased by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan acquired a new stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,236 shares of the company's stock, valued at approximately $299,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Heritage Family Offices LLP raised its holdings in Jacobs Solutions by 55.7% during the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company's stock valued at $1,993,000 after acquiring an additional 5,332 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Jacobs Solutions by 1.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company's stock worth $1,305,000 after purchasing an additional 175 shares in the last quarter. Occidental Asset Management LLC raised its stake in Jacobs Solutions by 11.7% during the 4th 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 during the period. JPMorgan Chase & Co. lifted its holdings in Jacobs Solutions by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company's stock worth $56,778,000 after purchasing an additional 47,211 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Jacobs Solutions in the 3rd quarter worth approximately $3,205,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

J has been the topic of several research analyst reports. Truist Financial lowered their target price on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Robert W. Baird decreased their price target on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup cut their price objective on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $152.14.

Jacobs Solutions Trading Up 1.9 %

J stock traded up $2.17 during midday trading on Tuesday, reaching $117.85. 63,007 shares of the company traded hands, compared to its average volume of 773,942. The firm has a market capitalization of $14.44 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 1.84 and a beta of 0.73. 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 business has a 50 day moving average of $122.03 and a 200-day moving average of $132.47. Jacobs Solutions Inc. has a 52-week low of $106.23 and a 52-week high of $156.31.

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, topping 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 the consensus estimate of $2.92 billion. During the same period last year, the company earned $1.45 earnings per share. Jacobs Solutions's revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.09%. This is an increase from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions's dividend payout ratio is presently 26.39%.

Jacobs Solutions declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.