Needham Investment Management LLC Purchases New Shares in Jacobs Solutions Inc. (NYSE:J)

Needham Investment Management LLC acquired a new position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the company's stock, valued at approximately $1,309,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in J. EdgeRock Capital LLC bought a new position in shares of Jacobs Solutions in the 2nd quarter valued at about $26,000. Bruce G. Allen Investments LLC grew its position in shares of Jacobs Solutions by 427.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company's stock valued at $29,000 after acquiring an additional 171 shares during the period. First Horizon Advisors Inc. grew its position in shares of Jacobs Solutions by 44.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company's stock valued at $32,000 after acquiring an additional 74 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Jacobs Solutions during the 3rd quarter worth about $42,000. Finally, True Wealth Design LLC bought a new stake in shares of Jacobs Solutions during the 3rd quarter worth about $44,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on J. StockNews.com began coverage on shares of Jacobs Solutions in a report on Wednesday. They issued a "hold" rating on the stock. Robert W. Baird upped their target price on Jacobs Solutions from $147.00 to $149.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. Raymond James upgraded Jacobs Solutions from a "market perform" rating to an "outperform" rating and set a $160.00 price target on the stock in a research note on Friday, October 4th. Citigroup dropped their price objective on Jacobs Solutions from $166.00 to $161.00 and set a "buy" rating for the company in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $152.00 target price on shares of Jacobs Solutions in a research report on Tuesday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $156.50.

Jacobs Solutions Price Performance

Shares of NYSE J traded up $0.05 during mid-day trading on Wednesday, hitting $138.05. 352,129 shares of the company's stock traded hands, compared to its average volume of 807,349. The company's 50-day moving average is $141.10 and its two-hundred day moving average is $142.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $17.11 billion, a P/E ratio of 21.83, a PEG ratio of 2.11 and a beta of 0.70. Jacobs Solutions Inc. has a 1 year low of $104.90 and a 1 year high of $150.54.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its earnings results on Tuesday, November 19th. The company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $2.08 by ($0.71). The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $4.50 billion. Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. Jacobs Solutions's revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. On average, equities analysts anticipate that Jacobs Solutions Inc. will post 6.06 EPS for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 0.84%. Jacobs Solutions's payout ratio is 18.33%.

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.