Jacobs Solutions Inc. (NYSE:J) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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 0.16% of Jacobs Solutions worth $26,120,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Ninety One UK Ltd increased its stake in Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock worth $265,649,000 after purchasing an additional 449,161 shares during the period. Proficio Capital Partners LLC increased its stake in Jacobs Solutions by 15,913.6% during the 4th quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company's stock worth $59,977,000 after buying an additional 446,057 shares during the period. Natixis Advisors LLC increased its stake in Jacobs Solutions by 138.9% during the 4th quarter. Natixis Advisors LLC now owns 479,452 shares of the company's stock worth $64,065,000 after buying an additional 278,777 shares during the period. Raymond James Financial Inc. acquired a new stake in Jacobs Solutions during the 4th quarter worth approximately $24,069,000. Finally, Soros Fund Management LLC boosted its position in Jacobs Solutions by 34.3% in the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company's stock valued at $65,569,000 after buying an additional 127,874 shares during the period. Hedge funds and other institutional investors own 85.65% of the company's stock.

Jacobs Solutions Stock Down 5.9 %

Shares of J traded down $7.01 during mid-day trading on Friday, reaching $111.47. The company's stock had a trading volume of 1,035,832 shares, compared to its average volume of 756,274. The company's 50 day moving average is $127.24 and its 200 day moving average is $135.21. The stock has a market cap of $13.66 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73. Jacobs Solutions Inc. has a 12-month low of $110.91 and a 12-month high of $156.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS 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 analyst estimates of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The firm's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 earnings per share. Equities analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions declared that its board has approved a stock repurchase program on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 1.15%. Jacobs Solutions's payout ratio is 26.39%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on J shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Robert W. Baird cut their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Truist Financial lifted their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Finally, Citigroup cut 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. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $153.86.

Jacobs Solutions Company 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.