National Bank of Canada FI Increases Stake in Jacobs Solutions Inc. (NYSE:J)

National Bank of Canada FI raised its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 956.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 264,824 shares of the company's stock after purchasing an additional 239,764 shares during the quarter. National Bank of Canada FI owned 0.22% of Jacobs Solutions worth $35,386,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Franklin Resources Inc. raised its stake in shares of Jacobs Solutions by 7.3% in the fourth quarter. Franklin Resources Inc. now owns 9,290 shares of the company's stock worth $1,241,000 after purchasing an additional 628 shares during the last quarter. Cannell & Spears LLC purchased a new position in Jacobs Solutions in the 4th quarter worth about $5,271,000. Alliancebernstein L.P. boosted its holdings in shares of Jacobs Solutions by 7.0% during the 4th quarter. Alliancebernstein L.P. now owns 153,063 shares of the company's stock valued at $20,452,000 after acquiring an additional 10,043 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Jacobs Solutions by 12.9% in the fourth quarter. Wellington Management Group LLP now owns 284,247 shares of the company's stock worth $37,981,000 after acquiring an additional 32,515 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Jacobs Solutions by 15.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,807 shares of the company's stock valued at $1,578,000 after purchasing an additional 1,553 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have commented on J shares. Robert W. Baird cut their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Truist Financial lifted their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Citigroup lowered their target price on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $150.00 price target 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 stock. According to data from MarketBeat, Jacobs Solutions has an average rating of "Moderate Buy" and a consensus target price of $153.86.

Jacobs Solutions Stock Performance

J traded down $7.01 during midday trading on Friday, reaching $111.47. The company had a trading volume of 1,035,832 shares, compared to its average volume of 756,274. The business has a 50-day moving average of $127.24 and a two-hundred day moving average of $135.21. 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 Inc. has a 1 year low of $110.91 and a 1 year high of $156.31. The company has a market cap of $13.66 billion, a P/E ratio of 22.98, a P/E/G ratio of 1.84 and a beta of 0.73.

Jacobs Solutions (NYSE:J - Get Free Report) last released 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 company had revenue of $2.93 billion during 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 quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 EPS. As a group, equities research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

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

Jacobs Solutions declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

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.