Mitsubishi UFJ Asset Management Co. Ltd. Buys 7,244 Shares of Jacobs Solutions Inc. (NYSE:J)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,219 shares of the company's stock after acquiring an additional 7,244 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Jacobs Solutions worth $26,120,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of J. Geode Capital Management LLC increased its position in Jacobs Solutions by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company's stock valued at $410,444,000 after acquiring an additional 73,566 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock valued at $265,649,000 after purchasing an additional 449,161 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Jacobs Solutions by 3.2% in the third quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company's stock valued at $143,263,000 after purchasing an additional 32,650 shares in the last quarter. Bank of New York Mellon Corp raised its position in Jacobs Solutions by 9.6% in the 4th quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company's stock worth $119,724,000 after purchasing an additional 78,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Jacobs Solutions by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company's stock worth $103,941,000 after buying an additional 17,372 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors.

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Jacobs Solutions Stock Down 4.3 %

Shares of J stock traded down $5.35 during trading hours on Thursday, hitting $119.17. 450,946 shares of the company were exchanged, compared to its average volume of 751,961. The company has a market capitalization of $14.60 billion, a PE ratio of 24.57, a PEG ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 52 week low of $118.66 and a 52 week high of $156.31. The business has a 50 day moving average of $128.29 and a two-hundred day moving average of $135.56. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.04. The company had revenue of $2.93 billion for 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%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 earnings per share. 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 approved a stock repurchase program on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were paid 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 1.07%. The ex-dividend date was Friday, February 21st. Jacobs Solutions's dividend payout ratio (DPR) is currently 26.39%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on J shares. Truist Financial lifted their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. StockNews.com initiated coverage on Jacobs Solutions in a report on Wednesday, December 4th. They set a "hold" rating for the company. Citigroup reduced their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird cut their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $150.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Jacobs Solutions has a consensus rating of "Moderate Buy" and an average target price of $153.86.

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.