DAVENPORT & Co LLC Has $2.35 Million Stake in Jacobs Solutions Inc. (NYSE:J)

DAVENPORT & Co LLC lifted its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 34.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,554 shares of the company's stock after purchasing an additional 4,488 shares during the period. DAVENPORT & Co LLC's holdings in Jacobs Solutions were worth $2,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Jacobs Solutions by 15.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,836 shares of the company's stock worth $513,000 after buying an additional 523 shares during the period. Everett Harris & Co. CA increased its stake in shares of Jacobs Solutions by 31.0% during the fourth quarter. Everett Harris & Co. CA now owns 133,651 shares of the company's stock worth $17,858,000 after purchasing an additional 31,658 shares during the period. Caprock Group LLC acquired a new stake in Jacobs Solutions during the 4th quarter worth approximately $204,000. Crews Bank & Trust bought a new stake in Jacobs Solutions in the 4th quarter valued at $114,000. Finally, Baron Wealth Management LLC acquired a new position in Jacobs Solutions in the 4th quarter valued at $225,000. 85.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on J. Truist Financial boosted their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a research report on Thursday, December 19th. Citigroup cut their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $150.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 10th. Royal Bank of Canada reiterated an "outperform" rating and issued a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Finally, Robert W. Baird lowered their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $155.89.

Jacobs Solutions Price Performance

NYSE:J traded up $0.49 on Friday, hitting $133.97. The company had a trading volume of 767,521 shares, compared to its average volume of 785,657. Jacobs Solutions Inc. has a 52 week low of $110.95 and a 52 week high of $150.54. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $16.42 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 1.88 and a beta of 0.72. The firm has a 50 day moving average of $136.17 and a two-hundred day moving average of $140.97.

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 the consensus estimate of $1.29 by $0.04. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $1.45 EPS. On average, research analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 4th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to buy up to 9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be 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 dividend yield of 0.96%. The ex-dividend date is Friday, February 21st. Jacobs Solutions's payout ratio is 23.92%.

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.