Resona Asset Management Co. Ltd. Acquires New Stake in Jacobs Solutions Inc. (NYSE:J)

Resona Asset Management Co. Ltd. purchased a new stake in Jacobs Solutions Inc. (NYSE:J - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,057 shares of the company's stock, valued at approximately $4,825,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of J. Heritage Family Offices LLP boosted its stake in Jacobs Solutions by 55.7% in the 4th quarter. Heritage Family Offices LLP now owns 14,912 shares of the company's stock valued at $1,993,000 after buying an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Jacobs Solutions by 1.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company's stock valued at $1,305,000 after acquiring an additional 175 shares during the period. Occidental Asset Management LLC boosted its stake in shares of Jacobs Solutions by 11.7% in the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company's stock valued at $3,347,000 after purchasing an additional 2,619 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Jacobs Solutions by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company's stock worth $56,778,000 after purchasing an additional 47,211 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Jacobs Solutions during the 3rd quarter worth about $3,205,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Trading Up 1.5 %

J traded up $1.70 during mid-day trading on Monday, reaching $118.24. The stock had a trading volume of 39,155 shares, compared to its average volume of 771,163. The firm's fifty day simple moving average is $123.95 and its two-hundred day simple moving average is $133.38. The stock has a market capitalization of $14.49 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.84 and a beta of 0.73. Jacobs Solutions Inc. has a 52 week low of $106.23 and a 52 week high of $156.31. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25.

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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 (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter last year, the business earned $1.45 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions announced that its board has approved a share buyback plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.08%. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. Jacobs Solutions's dividend payout ratio (DPR) is 26.39%.

Analyst Ratings Changes

J has been the topic of a number of recent analyst reports. Citigroup reduced their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Truist Financial decreased their price target on Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, Robert W. Baird cut their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.14.

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.