Cannell & Spears LLC bought a new position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 39,451 shares of the company's stock, valued at approximately $5,271,000.
A number of other hedge funds have also made changes to their positions in the company. Avalon Trust Co bought a new stake in shares of Jacobs Solutions during the fourth quarter worth $33,000. Larson Financial Group LLC lifted its position in Jacobs Solutions by 71.9% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company's stock worth $37,000 after buying an additional 115 shares in the last quarter. Quarry LP grew its holdings in Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company's stock worth $38,000 after acquiring an additional 233 shares during the last quarter. True Wealth Design LLC acquired a new stake in Jacobs Solutions in the 3rd quarter valued at about $44,000. Finally, Assetmark Inc. raised its stake in shares of Jacobs Solutions by 42.7% in the fourth quarter. Assetmark Inc. now owns 334 shares of the company's stock worth $45,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Citigroup dropped their target price 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. Robert W. Baird decreased their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Finally, Truist Financial boosted their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $153.86.
View Our Latest Research Report on J
Jacobs Solutions Stock Down 5.9 %
Shares of NYSE:J traded down $7.01 during midday trading on Friday, reaching $111.47. 1,035,832 shares of the company were exchanged, compared to its average volume of 757,139. The firm has a market cap of $13.66 billion, a PE ratio of 22.98, a P/E/G ratio of 1.84 and a beta of 0.73. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a fifty-two week low of $110.90 and a fifty-two week high of $156.31. The stock has a fifty day simple moving average of $127.24 and a two-hundred day simple moving average of $135.14.
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 for the quarter, topping the consensus estimate of $1.29 by $0.04. The company had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS. As a group, sell-side analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.
Jacobs Solutions announced that its board has authorized a share repurchase plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.
Jacobs Solutions Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, February 21st. This is an increase from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's dividend payout ratio is presently 26.39%.
Jacobs Solutions Profile
(
Free Report)
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.
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