Bank of Nova Scotia Purchases 94,192 Shares of Jacobs Solutions Inc. (NYSE:J)

Bank of Nova Scotia increased its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 507.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,767 shares of the company's stock after purchasing an additional 94,192 shares during the quarter. Bank of Nova Scotia owned approximately 0.09% of Jacobs Solutions worth $15,068,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Avalon Trust Co acquired a new stake in shares of Jacobs Solutions during the 4th quarter worth about $33,000. Larson Financial Group LLC grew its holdings in shares of Jacobs Solutions by 71.9% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company's stock worth $37,000 after purchasing an additional 115 shares during the last quarter. Quarry LP raised its holdings in shares of Jacobs Solutions by 394.9% in the third quarter. Quarry LP now owns 292 shares of the company's stock valued at $38,000 after buying an additional 233 shares during the last quarter. Assetmark Inc. lifted its position in Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company's stock worth $45,000 after buying an additional 100 shares in the last quarter. Finally, Catalyst Capital Advisors LLC lifted its position in shares of Jacobs Solutions by 215.7% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company's stock worth $49,000 after purchasing an additional 248 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have commented on J shares. Citigroup decreased their price objective on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Truist Financial decreased their price objective on Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, Robert W. Baird lowered their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $152.14.

Jacobs Solutions Stock Up 0.2 %

NYSE:J traded up $0.22 during trading hours on Wednesday, reaching $117.73. 109,847 shares of the stock were exchanged, compared to its average volume of 770,314. The stock has a market cap of $14.43 billion, a PE ratio of 24.27, a PEG ratio of 1.84 and a beta of 0.73. Jacobs Solutions Inc. has a twelve month low of $106.23 and a twelve month high of $156.31. The firm has a 50 day moving average of $123.33 and a 200 day moving average of $133.01. 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 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 return on equity of 14.87% and a net margin of 4.28%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the company posted $1.45 EPS. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were issued a dividend of $0.32 per share. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions's dividend payout ratio (DPR) is presently 26.39%.

Jacobs Solutions announced that its board has initiated a share buyback plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 9% of its shares through open market purchases. Shares repurchase plans are generally 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.