Jacobs Solutions Inc. (NYSE:J) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp raised its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,602 shares of the company's stock after purchasing an additional 2,588 shares during the quarter. Cibc World Markets Corp's holdings in Jacobs Solutions were worth $2,619,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of J. OneDigital Investment Advisors LLC lifted its position in Jacobs Solutions by 4.0% during the third quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company's stock valued at $293,000 after purchasing an additional 86 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of Jacobs Solutions by 7.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 40,956 shares of the company's stock valued at $5,361,000 after buying an additional 2,675 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Jacobs Solutions in the 3rd quarter valued at about $1,575,000. PNC Financial Services Group Inc. boosted its stake in shares of Jacobs Solutions by 16.7% in the third quarter. PNC Financial Services Group Inc. now owns 43,343 shares of the company's stock worth $5,674,000 after buying an additional 6,201 shares during the last quarter. Finally, Commerce Bank grew its holdings in Jacobs Solutions by 2.6% during the third quarter. Commerce Bank now owns 6,623 shares of the company's stock worth $867,000 after acquiring an additional 165 shares during the period. 85.65% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research analysts have issued reports on the company. Robert W. Baird decreased their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. The Goldman Sachs Group restated a "neutral" rating and set a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Royal Bank of Canada reiterated an "outperform" rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Truist Financial boosted their price target 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. Finally, Citigroup decreased their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $153.63.

Jacobs Solutions Price Performance

J stock traded up $0.33 during mid-day trading on Tuesday, reaching $123.52. The company's stock had a trading volume of 853,947 shares, compared to its average volume of 709,773. The stock has a market cap of $15.14 billion, a PE ratio of 25.47, a P/E/G ratio of 1.84 and a beta of 0.77. The company's 50 day moving average is $130.51 and its two-hundred day moving average is $136.50. Jacobs Solutions Inc. has a fifty-two week low of $118.71 and a fifty-two week high of $156.31. 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 announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 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 firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the business posted $1.45 earnings per share. The firm's revenue was up 4.4% compared to the same quarter last year. Equities research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions announced that its board has approved a stock buyback plan on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.04%. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions's payout ratio is presently 26.39%.

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.