Allspring Global Investments Holdings LLC Grows Position in Jacobs Solutions Inc. (NYSE:J)

Allspring Global Investments Holdings LLC increased its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 0.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,436,115 shares of the company's stock after buying an additional 4,187 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.96% of Jacobs Solutions worth $323,916,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Jacobs Solutions by 55.8% during the third quarter. GAMMA Investing LLC now owns 405 shares of the company's stock valued at $53,000 after purchasing an additional 145 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Jacobs Solutions by 219.5% during the third quarter. Exchange Traded Concepts LLC now owns 6,707 shares of the company's stock valued at $878,000 after purchasing an additional 4,608 shares during the last quarter. CX Institutional lifted its holdings in Jacobs Solutions by 8.5% during the third quarter. CX Institutional now owns 8,015 shares of the company's stock valued at $1,049,000 after purchasing an additional 629 shares during the last quarter. Creative Planning lifted its holdings in Jacobs Solutions by 1.0% during the third quarter. Creative Planning now owns 32,079 shares of the company's stock valued at $4,199,000 after purchasing an additional 327 shares during the last quarter. Finally, Occidental Asset Management LLC lifted its holdings in Jacobs Solutions by 7.8% during the third quarter. Occidental Asset Management LLC now owns 22,426 shares of the company's stock valued at $2,936,000 after purchasing an additional 1,618 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on J shares. StockNews.com started coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They set a "hold" rating on the stock. Truist Financial upped their price target on Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a research report on Thursday, December 19th. The Goldman Sachs Group reiterated a "neutral" rating and set a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Citigroup decreased their price target 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. Finally, Benchmark cut 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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $155.89.

Jacobs Solutions Price Performance

Shares of J stock traded down $1.55 during trading on Friday, hitting $128.81. The company had a trading volume of 830,761 shares, compared to its average volume of 785,657. The stock has a market capitalization of $15.78 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The stock's 50-day moving average is $135.47 and its two-hundred day moving average is $140.45. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a 52 week low of $110.95 and a 52 week high of $150.54.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. Jacobs Solutions's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 earnings per share. As a group, analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 0.99%. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's dividend payout ratio is currently 26.39%.

Jacobs Solutions announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 4th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to buy up to 9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are 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.