Grantham Mayo Van Otterloo & Co. LLC Takes $2.20 Million Position in Jacobs Solutions Inc. (NYSE:J)

Grantham Mayo Van Otterloo & Co. LLC bought a new stake in Jacobs Solutions Inc. (NYSE:J - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,497 shares of the company's stock, valued at approximately $2,204,000.

Several other hedge funds have also made changes to their positions in the business. Aviva PLC lifted its holdings in shares of Jacobs Solutions by 1,476.3% during the fourth quarter. Aviva PLC now owns 74,939 shares of the company's stock worth $10,013,000 after purchasing an additional 70,185 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in shares of Jacobs Solutions in the fourth quarter valued at about $4,825,000. Somerville Kurt F boosted its holdings in shares of Jacobs Solutions by 5.4% in the fourth quarter. Somerville Kurt F now owns 2,994 shares of the company's stock valued at $400,000 after acquiring an additional 154 shares in the last quarter. ExodusPoint Capital Management LP increased its stake in shares of Jacobs Solutions by 597.2% during the fourth quarter. ExodusPoint Capital Management LP now owns 91,240 shares of the company's stock worth $12,191,000 after acquiring an additional 78,154 shares during the period. Finally, World Investment Advisors raised its holdings in Jacobs Solutions by 19.4% during the fourth quarter. World Investment Advisors now owns 2,101 shares of the company's stock worth $281,000 after purchasing an additional 342 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Truist Financial dropped their target price on Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. 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 research report on Wednesday, February 5th. Finally, Citigroup decreased their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Five 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.com, Jacobs Solutions presently has a consensus rating of "Moderate Buy" and an average target price of $152.14.

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Jacobs Solutions Price Performance

Jacobs Solutions stock traded up $1.49 during mid-day trading on Friday, hitting $116.34. 914,223 shares of the company were exchanged, compared to its average volume of 774,046. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. Jacobs Solutions Inc. has a 12-month low of $106.23 and a 12-month high of $156.31. The business's 50 day simple moving average is $123.95 and its two-hundred day simple moving average is $133.38. The company has a market capitalization of $14.26 billion, a P/E ratio of 23.99, a PEG ratio of 1.84 and a beta of 0.73.

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

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

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.10%. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. Jacobs Solutions's dividend payout ratio (DPR) is presently 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.