Jacobs Solutions Inc. (NYSE:J) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 31.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,991 shares of the company's stock after buying an additional 5,774 shares during the period. CIBC Asset Management Inc's holdings in Jacobs Solutions were worth $3,206,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of J. Ninety One UK Ltd raised its stake in shares of Jacobs Solutions by 29.2% in the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock worth $265,649,000 after buying an additional 449,161 shares during the period. Sessa Capital IM L.P. purchased a new position in Jacobs Solutions during the 3rd quarter valued at approximately $46,168,000. Soros Fund Management LLC grew its holdings in Jacobs Solutions by 34.3% during the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company's stock valued at $65,569,000 after buying an additional 127,874 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Jacobs Solutions by 28.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company's stock valued at $70,296,000 after buying an additional 117,940 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Jacobs Solutions by 19.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company's stock valued at $85,099,000 after buying an additional 107,849 shares in the last quarter. Institutional investors own 85.65% of the company's stock.

Analysts Set New Price Targets

J has been the subject of a number of research analyst reports. Benchmark lowered Jacobs Solutions from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Royal Bank of Canada reissued an "outperform" rating and issued a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. The Goldman Sachs Group restated a "neutral" rating and set a $150.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Truist Financial boosted their target price on Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a research note on Thursday, December 19th. Finally, Robert W. Baird dropped their target price on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Jacobs Solutions currently has an average rating of "Moderate Buy" and an average target price of $155.89.

Jacobs Solutions Trading Down 0.8 %

Jacobs Solutions stock traded down $1.01 during mid-day trading on Friday, hitting $129.12. The company's stock had a trading volume of 1,583,644 shares, compared to its average volume of 799,533. Jacobs Solutions Inc. has a 1 year low of $110.95 and a 1 year high of $150.54. The stock's fifty day moving average is $134.99 and its two-hundred day moving average is $140.03. The firm has a market capitalization of $15.82 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.84 and a beta of 0.72. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41.

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

Jacobs Solutions Increases Dividend

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

Jacobs Solutions announced that its Board of Directors has initiated a share buyback program on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Jacobs Solutions Company 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.