Jacobs Solutions Inc. (NYSE:J) Shares Sold by Bancreek Capital Management LP

Bancreek Capital Management LP cut its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 31.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,133 shares of the company's stock after selling 17,155 shares during the period. Jacobs Solutions accounts for about 5.0% of Bancreek Capital Management LP's portfolio, making the stock its 12th largest holding. Bancreek Capital Management LP's holdings in Jacobs Solutions were worth $5,095,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Heritage Family Offices LLP raised its position in Jacobs Solutions by 55.7% in the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company's stock valued at $1,993,000 after purchasing an additional 5,332 shares during the period. Stratos Wealth Partners LTD. grew its position in Jacobs Solutions by 1.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company's stock valued at $1,305,000 after acquiring an additional 175 shares in the last quarter. Occidental Asset Management LLC increased its stake in Jacobs Solutions by 11.7% during the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company's stock worth $3,347,000 after purchasing an additional 2,619 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Jacobs Solutions by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company's stock valued at $56,778,000 after purchasing an additional 47,211 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Jacobs Solutions during the 3rd quarter worth approximately $3,205,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

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Jacobs Solutions Stock Up 0.2 %

NYSE:J traded up $0.26 during midday trading on Wednesday, hitting $123.88. 913,327 shares of the company were exchanged, compared to its average volume of 711,443. Jacobs Solutions Inc. has a fifty-two week low of $118.71 and a fifty-two week high of $156.31. The company has a market capitalization of $15.18 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. 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 company has a fifty day simple moving average of $130.28 and a 200 day simple moving average of $136.37.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its earnings results 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. The firm had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The business's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 EPS. As a group, equities analysts anticipate 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 authorized a stock repurchase program on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The firm also recently disclosed 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 an increase from Jacobs Solutions's previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions's dividend payout ratio (DPR) is presently 26.39%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Citigroup decreased their price objective on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They set a "hold" rating on the stock. Truist Financial raised their price objective 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. Finally, Robert W. Baird lowered their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $153.63.

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.