Elo Mutual Pension Insurance Co Purchases New Shares in Jacobs Solutions Inc. (NYSE:J)

Elo Mutual Pension Insurance Co bought a new position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 16,469 shares of the company's stock, valued at approximately $2,201,000.

A number of other large investors also recently bought and sold shares of J. Avalon Trust Co bought a new stake in shares of Jacobs Solutions during the 4th quarter valued at about $33,000. Larson Financial Group LLC boosted its stake in Jacobs Solutions by 71.9% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company's stock valued at $37,000 after acquiring an additional 115 shares during the period. Quarry LP grew its holdings in shares of Jacobs Solutions by 394.9% during the third quarter. Quarry LP now owns 292 shares of the company's stock valued at $38,000 after purchasing an additional 233 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Jacobs Solutions during the 3rd quarter worth approximately $44,000. Finally, Assetmark Inc. lifted its holdings in shares of Jacobs Solutions by 42.7% in the 4th quarter. Assetmark Inc. now owns 334 shares of the company's stock worth $45,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 85.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on J. Citigroup dropped their target price on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. StockNews.com began coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They issued a "hold" rating on the stock. The Goldman Sachs Group restated a "neutral" rating and issued a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Truist Financial lifted their price target on Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $153.63.

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Jacobs Solutions Price Performance

NYSE:J traded up $2.48 during midday trading on Wednesday, hitting $124.46. 324,301 shares of the stock were exchanged, compared to its average volume of 875,573. The business has a 50-day moving average price of $128.63 and a two-hundred day moving average price of $135.63. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $15.25 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54.

Jacobs Solutions (NYSE:J - Get Free Report) last posted 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 company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the business earned $1.45 EPS. The company's quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

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

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 1.03%. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's payout ratio is currently 26.39%.

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.