Cidel Asset Management Inc. Purchases 45,666 Shares of Jacobs Solutions Inc. (NYSE:J)

Cidel Asset Management Inc. increased its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 20.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 273,159 shares of the company's stock after purchasing an additional 45,666 shares during the quarter. Jacobs Solutions comprises about 2.5% of Cidel Asset Management Inc.'s portfolio, making the stock its 9th biggest holding. Cidel Asset Management Inc. owned 0.22% of Jacobs Solutions worth $36,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of J. Czech National Bank lifted its holdings in Jacobs Solutions by 6.9% in the 3rd quarter. Czech National Bank now owns 25,507 shares of the company's stock valued at $3,339,000 after acquiring an additional 1,646 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Jacobs Solutions by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the company's stock valued at $53,000 after acquiring an additional 145 shares during the last quarter. Strategic Wealth Partners Ltd. acquired a new stake in Jacobs Solutions in the 3rd quarter valued at about $232,000. Pinnacle Bancorp Inc. lifted its holdings in Jacobs Solutions by 12.2% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 2,709 shares of the company's stock valued at $355,000 after acquiring an additional 294 shares during the last quarter. Finally, LVW Advisors LLC lifted its holdings in Jacobs Solutions by 3.7% in the 3rd quarter. LVW Advisors LLC now owns 4,334 shares of the company's stock valued at $567,000 after acquiring an additional 155 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on J. Truist Financial upped their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a report on Thursday, December 19th. StockNews.com started coverage on Jacobs Solutions in a report on Wednesday, December 4th. They set a "hold" rating on the stock. Benchmark downgraded Jacobs Solutions from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Royal Bank of Canada restated an "outperform" rating and set a $152.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $150.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Jacobs Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $155.89.

Jacobs Solutions Stock Down 2.3 %

Shares of J traded down $3.03 during trading hours on Wednesday, reaching $130.19. The company's stock had a trading volume of 622,871 shares, compared to its average volume of 764,863. The company has a 50 day moving average of $135.96 and a two-hundred day moving average of $140.71. Jacobs Solutions Inc. has a 1-year low of $110.95 and a 1-year high of $150.54. The firm has a market cap of $15.95 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 1.88 and a beta of 0.72. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

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

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 0.98%. This is an increase from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's dividend payout ratio is currently 23.92%.

Jacobs Solutions announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes 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 leadership believes its shares are 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.