Massachusetts Financial Services Co. MA Increases Stock Position in Jacobs Solutions Inc. (NYSE:J)

Massachusetts Financial Services Co. MA raised its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,809,207 shares of the company's stock after purchasing an additional 157,086 shares during the period. Massachusetts Financial Services Co. MA owned 1.48% of Jacobs Solutions worth $241,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Avalon Trust Co acquired a new position in shares of Jacobs Solutions during the fourth quarter valued at about $33,000. Larson Financial Group LLC boosted its stake in shares of Jacobs Solutions by 71.9% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company's stock worth $37,000 after acquiring an additional 115 shares in the last quarter. Quarry LP grew its holdings in 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 purchasing an additional 233 shares during the period. Assetmark Inc. increased its holdings in Jacobs Solutions by 42.7% in the 4th quarter. Assetmark Inc. now owns 334 shares of the company's stock worth $45,000 after acquiring an additional 100 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake 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 own 85.65% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Robert W. Baird decreased their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Truist Financial lowered their price objective on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating for the company in a research report on Tuesday. Finally, Citigroup dropped their target price on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $152.14.

Jacobs Solutions Stock Up 7.0 %

Shares of J stock traded up $7.75 on Wednesday, reaching $118.54. 1,765,594 shares of the stock were exchanged, compared to its average volume of 766,623. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.84 and a beta of 0.73. The business's 50 day moving average price is $124.78 and its 200 day moving average price is $134.04. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a twelve month low of $106.23 and a twelve month high of $156.31.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings data 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 4.28% and a return on equity of 14.87%. The company had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter last year, the company earned $1.45 earnings per share. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

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

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were given a dividend of $0.32 per share. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.08%. Jacobs Solutions's payout ratio is 26.39%.

Jacobs Solutions 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.