180,130 Shares in Jacobs Solutions Inc. (NYSE:J) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 180,130 shares of the company's stock, valued at approximately $24,069,000. Raymond James Financial Inc. owned about 0.15% of Jacobs Solutions at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Jacobs Solutions by 2.4% during the third quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company's stock worth $410,444,000 after purchasing an additional 73,566 shares in the last quarter. Ninety One UK Ltd increased its holdings in Jacobs Solutions by 29.2% during the 4th 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 in the last quarter. Kovitz Investment Group Partners LLC lifted its position 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 worth $143,263,000 after purchasing an additional 32,650 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Jacobs Solutions by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company's stock valued at $119,724,000 after acquiring an additional 78,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Jacobs Solutions by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company's stock valued at $103,941,000 after acquiring an additional 17,372 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

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Jacobs Solutions Trading Up 1.5 %

Shares of NYSE J traded up $1.83 during trading hours on Wednesday, reaching $124.33. The stock had a trading volume of 431,398 shares, compared to its average volume of 845,437. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 25.63, a P/E/G ratio of 1.84 and a beta of 0.77. 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 Inc. has a 52-week low of $110.95 and a 52-week high of $150.54. The business's fifty day moving average price is $131.36 and its two-hundred day moving average price is $137.19.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the company earned $1.45 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. Analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions announced that its board has approved a share 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 buy up to 9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is 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 1.03%. Jacobs Solutions's dividend payout ratio is currently 26.39%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Benchmark downgraded shares of Jacobs Solutions from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. StockNews.com assumed coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They set a "hold" rating on the stock. The Goldman Sachs Group reiterated 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 decreased their price target on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Finally, Truist Financial raised their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a research report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Jacobs Solutions presently has an average rating of "Hold" and a consensus target price of $153.63.

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.