Jacobs Solutions Inc. (NYSE:J) Sees Significant Growth in Short Interest

Jacobs Solutions Inc. (NYSE:J - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 2,660,000 shares, an increase of 52.9% from the January 31st total of 1,740,000 shares. Based on an average daily trading volume, of 819,900 shares, the short-interest ratio is currently 3.2 days. Approximately 2.2% of the company's shares are sold short.

Hedge Funds Weigh In On Jacobs Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. raised its stake in shares of Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company's stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Empirical Finance LLC lifted its position in Jacobs Solutions by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 4,358 shares of the company's stock valued at $570,000 after purchasing an additional 82 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Jacobs Solutions by 0.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 11,006 shares of the company's stock valued at $1,471,000 after acquiring an additional 83 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Jacobs Solutions by 4.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company's stock worth $293,000 after purchasing an additional 86 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of Jacobs Solutions by 5.3% during the fourth quarter. Benjamin Edwards Inc. now owns 1,731 shares of the company's stock valued at $231,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company's stock.

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Jacobs Solutions Stock Performance

Shares of J traded down $1.00 on Thursday, reaching $123.38. 890,794 shares of the company's stock traded hands, compared to its average volume of 837,495. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock has a market cap of $15.12 billion, a PE ratio of 25.44, a PEG ratio of 1.84 and a beta of 0.77. Jacobs Solutions has a 52-week low of $110.95 and a 52-week high of $150.54. The stock's 50 day simple moving average is $133.38 and its two-hundred day simple moving average is $138.96.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter in the prior year, the company earned $1.45 EPS. The firm's revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that Jacobs Solutions will post 6.05 earnings per share for the current fiscal year.

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

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a $0.32 dividend. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.04%. Jacobs Solutions's dividend payout ratio is presently 26.39%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on J shares. Truist Financial upped their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Citigroup reduced their price objective on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Royal Bank of Canada reissued an "outperform" rating and set a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Benchmark downgraded Jacobs Solutions from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Finally, Robert W. Baird decreased their target price on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $155.89.

Jacobs Solutions Company 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.