Jacobs Solutions (NYSE:J) Sets New 12-Month Low - Here's What Happened

Jacobs Solutions Inc. (NYSE:J - Get Free Report) shares hit a new 52-week low on Monday . The stock traded as low as $106.23 and last traded at $110.48, with a volume of 859187 shares changing hands. The stock had previously closed at $111.45.

Analyst Upgrades and Downgrades

A number of research analysts have commented on J shares. Truist Financial lowered their price target on Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating for the company in a research report on Tuesday. Robert W. Baird cut their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup decreased their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $152.14.

Jacobs Solutions Stock Up 1.3 %

The firm has a market capitalization of $14.26 billion, a P/E ratio of 23.99, a P/E/G ratio of 1.84 and a beta of 0.73. The company has a fifty day simple moving average of $123.95 and a 200 day simple moving average of $133.53. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

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. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The business's revenue was up 4.4% on a year-over-year basis. On average, equities analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

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Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were given a dividend of $0.32 per share. The ex-dividend date was Friday, February 21st. 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 1.10%. Jacobs Solutions's dividend payout ratio (DPR) is 26.39%.

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

Institutional Investors Weigh In On Jacobs Solutions

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

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.