Envestnet Asset Management Inc. Raises Position in Jacobs Solutions Inc. (NYSE:J)

Envestnet Asset Management Inc. lifted its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 18.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 347,264 shares of the company's stock after buying an additional 52,920 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.28% of Jacobs Solutions worth $46,401,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ninety One UK Ltd lifted its position in Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock valued at $265,649,000 after purchasing an additional 449,161 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Jacobs Solutions by 15,913.6% during the 4th quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company's stock worth $59,977,000 after acquiring an additional 446,057 shares during the last quarter. Natixis Advisors LLC grew its position in Jacobs Solutions by 138.9% in the fourth quarter. Natixis Advisors LLC now owns 479,452 shares of the company's stock worth $64,065,000 after acquiring an additional 278,777 shares in the last quarter. National Bank of Canada FI increased its stake in Jacobs Solutions by 956.8% in the fourth quarter. National Bank of Canada FI now owns 264,824 shares of the company's stock valued at $35,386,000 after acquiring an additional 239,764 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Jacobs Solutions in the fourth quarter valued at $24,069,000. 85.65% of the stock is currently owned by institutional investors.

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Jacobs Solutions Trading Up 0.2 %

Shares of NYSE J traded up $0.23 during mid-day trading on Wednesday, hitting $117.74. The stock had a trading volume of 89,392 shares, compared to its average volume of 895,177. The firm has a market cap of $14.43 billion, a P/E ratio of 24.29, a price-to-earnings-growth 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 price of $123.33 and a two-hundred day moving average price of $133.01. Jacobs Solutions Inc. has a 1 year low of $106.23 and a 1 year high of $150.54.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.04. The firm had revenue of $2.93 billion for 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 company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.45 earnings per share. On average, equities analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management 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 given a $0.32 dividend. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Friday, February 21st. Jacobs Solutions's dividend payout ratio (DPR) is currently 26.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on J shares. Robert W. Baird cut their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Citigroup cut their target price on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, Truist Financial reduced their price target on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $152.14.

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.