Jacobs Solutions Inc. (NYSE:J) Shares Purchased by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC lifted its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 60.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,552 shares of the company's stock after acquiring an additional 10,753 shares during the quarter. Greenwood Capital Associates LLC's holdings in Jacobs Solutions were worth $3,815,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in J. First Horizon Advisors Inc. lifted its position in shares of Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company's stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Quarry LP lifted its holdings in Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company's stock worth $38,000 after buying an additional 233 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Jacobs Solutions in the 3rd quarter valued at approximately $42,000. True Wealth Design LLC acquired a new position in shares of Jacobs Solutions in the third quarter worth $44,000. Finally, GAMMA Investing LLC increased its position in shares of Jacobs Solutions by 55.8% during the third quarter. GAMMA Investing LLC now owns 405 shares of the company's stock worth $53,000 after acquiring an additional 145 shares during the period. Hedge funds and other institutional investors own 85.65% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on J shares. Truist Financial boosted their target price on Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a research note on Thursday, December 19th. Robert W. Baird reduced their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Citigroup reduced their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $152.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $155.89.

Jacobs Solutions Stock Performance

NYSE J traded up $0.49 on Friday, reaching $133.97. The stock had a trading volume of 640,639 shares, compared to its average volume of 770,957. The stock has a market cap of $16.42 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.11 and a beta of 0.72. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54. The business's 50-day moving average price is $136.30 and its 200 day moving average price is $141.08. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.20 and a current ratio of 1.20.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.04. Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The firm had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter in the prior year, the business earned $1.45 EPS. Jacobs Solutions's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts expect that Jacobs Solutions Inc. will post 6.06 earnings per share for the current year.

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

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's dividend payout ratio (DPR) is currently 26.39%.

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.