Geode Capital Management LLC Buys 10,174 Shares of Jacobs Solutions Inc. (NYSE:J)

Geode Capital Management LLC raised its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,155,839 shares of the company's stock after buying an additional 10,174 shares during the period. Geode Capital Management LLC owned about 2.58% of Jacobs Solutions worth $420,626,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Heritage Family Offices LLP increased its stake in shares of Jacobs Solutions by 55.7% during the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company's stock worth $1,993,000 after purchasing an additional 5,332 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Jacobs Solutions by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company's stock valued at $1,305,000 after acquiring an additional 175 shares during the period. Occidental Asset Management LLC boosted its position in shares of Jacobs Solutions by 11.7% in the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company's stock valued at $3,347,000 after acquiring an additional 2,619 shares during the period. JPMorgan Chase & Co. raised its stake in Jacobs Solutions by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company's stock worth $56,778,000 after purchasing an additional 47,211 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Jacobs Solutions in the 3rd quarter valued at about $3,205,000. 85.65% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts have issued reports on J shares. Truist Financial reduced their price objective on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday. Robert W. Baird reduced their target price 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, Citigroup dropped their price objective 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. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Jacobs Solutions presently has an average rating of "Moderate Buy" and an average target price of $152.14.

Jacobs Solutions Trading Down 3.8 %

Shares of NYSE J traded down $4.55 during trading on Thursday, reaching $113.99. The company had a trading volume of 155,475 shares, compared to its average volume of 897,739. The stock has a market cap of $13.97 billion, a P/E ratio of 23.50, a PEG ratio of 1.84 and a beta of 0.73. The company's fifty day moving average price is $124.78 and its 200-day moving average price is $134.04. 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 12 month low of $106.23 and a 12 month high of $150.54.

Jacobs Solutions (NYSE:J - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.04. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate 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 prior year, the firm posted $1.45 EPS. As a group, research analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were issued a $0.32 dividend. 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. This represents a $1.28 annualized dividend and a yield of 1.12%. Jacobs Solutions's payout ratio is presently 26.39%.

Jacobs Solutions announced that its board has approved a stock repurchase program on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

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.