Otter Creek Advisors LLC Makes New $4.78 Million Investment in Jacobs Solutions Inc. (NYSE:J)

Otter Creek Advisors LLC purchased a new stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 35,800 shares of the company's stock, valued at approximately $4,784,000. Jacobs Solutions comprises approximately 3.3% of Otter Creek Advisors LLC's holdings, making the stock its 16th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company's stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Quarry LP lifted its holdings in Jacobs Solutions by 394.9% in the 3rd quarter. Quarry LP now owns 292 shares of the company's stock valued at $38,000 after acquiring an additional 233 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Jacobs Solutions during the 3rd quarter valued at about $42,000. True Wealth Design LLC acquired a new position in shares of Jacobs Solutions in the 3rd quarter worth approximately $44,000. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of Jacobs Solutions by 215.7% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company's stock worth $49,000 after purchasing an additional 248 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on J. Royal Bank of Canada restated an "outperform" rating and issued a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Citigroup decreased 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. Benchmark downgraded Jacobs Solutions from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. StockNews.com began coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a "hold" rating on the stock. Finally, Robert W. Baird cut their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $155.89.

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Jacobs Solutions Stock Up 1.3 %

Jacobs Solutions stock traded up $1.68 during trading hours on Friday, hitting $128.22. The company had a trading volume of 708,319 shares, compared to its average volume of 825,206. Jacobs Solutions Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $150.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $15.71 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 1.84 and a beta of 0.72. The firm's fifty day moving average is $134.08 and its 200-day moving average is $139.42.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.04. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. Jacobs Solutions's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 earnings per share. On average, research analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.00%. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. Jacobs Solutions's payout ratio is currently 26.39%.

Jacobs Solutions declared that its Board of Directors has approved a stock buyback program on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Jacobs Solutions 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.