Victory Capital Management Inc. Boosts Holdings in Jacobs Solutions Inc. (NYSE:J)

Victory Capital Management Inc. raised its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 238,675 shares of the company's stock after acquiring an additional 26,525 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of Jacobs Solutions worth $31,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Jacobs Solutions by 4.3% during the third quarter. Principal Financial Group Inc. now owns 145,574 shares of the company's stock valued at $19,056,000 after acquiring an additional 5,959 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Jacobs Solutions in the 3rd quarter worth approximately $42,000. Atria Investments Inc grew its position in shares of Jacobs Solutions by 86.8% during the 3rd quarter. Atria Investments Inc now owns 14,852 shares of the company's stock valued at $1,944,000 after purchasing an additional 6,902 shares in the last quarter. Lountzis Asset Management LLC grew its position in shares of Jacobs Solutions by 17.7% during the 3rd quarter. Lountzis Asset Management LLC now owns 2,671 shares of the company's stock valued at $350,000 after purchasing an additional 402 shares in the last quarter. Finally, Versor Investments LP bought a new position in shares of Jacobs Solutions in the third quarter worth $406,000. Hedge funds and other institutional investors own 85.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup reduced 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. Robert W. Baird cut their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Truist Financial raised 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. Royal Bank of Canada reissued an "outperform" rating and issued a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Finally, Benchmark cut shares of Jacobs Solutions from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $155.89.

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Jacobs Solutions Trading Down 0.7 %

NYSE:J traded down $0.93 during trading hours on Monday, reaching $123.60. The company's stock had a trading volume of 892,765 shares, compared to its average volume of 842,168. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 1.84 and a beta of 0.77. The firm has a 50-day simple moving average of $132.92 and a 200-day simple moving average of $138.56. Jacobs Solutions Inc. has a 1 year low of $110.95 and a 1 year high of $150.54.

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, beating 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 during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The business's quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

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

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

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.