iA Global Asset Management Inc. Makes New Investment in Jacobs Solutions Inc. (NYSE:J)

iA Global Asset Management Inc. bought a new stake in Jacobs Solutions Inc. (NYSE:J - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,531 shares of the company's stock, valued at approximately $1,274,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heritage Family Offices LLP raised its position in Jacobs Solutions by 55.7% in the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company's stock valued at $1,993,000 after purchasing an additional 5,332 shares during the period. Stratos Wealth Partners LTD. lifted its position in Jacobs Solutions by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company's stock worth $1,305,000 after acquiring an additional 175 shares in the last quarter. Occidental Asset Management LLC boosted its holdings in Jacobs Solutions by 11.7% in the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company's stock worth $3,347,000 after acquiring an additional 2,619 shares during the period. JPMorgan Chase & Co. grew its position in Jacobs Solutions by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company's stock valued at $56,778,000 after acquiring an additional 47,211 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Jacobs Solutions during the third quarter valued at approximately $3,205,000. Institutional investors and hedge funds own 85.65% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in 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 note on Tuesday, December 10th. StockNews.com started coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They set a "hold" rating for the company. Truist Financial boosted their price target on Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a research note on Thursday, December 19th. Citigroup lowered their price objective 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, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $152.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $153.63.

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Jacobs Solutions Price Performance

Shares of J traded up $0.26 during midday trading on Wednesday, reaching $123.88. The stock had a trading volume of 913,327 shares, compared to its average volume of 711,443. The firm's 50 day moving average price is $130.28 and its 200-day moving average price is $136.37. Jacobs Solutions Inc. has a 52 week low of $118.71 and a 52 week high of $156.31. The company has a market capitalization of $15.18 billion, a P/E ratio of 25.54, a P/E/G ratio of 1.84 and a beta of 0.77. 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 (NYSE:J - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 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 firm had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.92 billion. During the same period in the previous year, the business earned $1.45 earnings per share. Jacobs Solutions's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

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

Jacobs Solutions declared that its Board of Directors has initiated a share 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

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.