Jacobs Solutions Inc. (NYSE:J) Stake Raised by Scotia Capital Inc.

Scotia Capital Inc. lifted its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 67.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,905 shares of the company's stock after purchasing an additional 6,024 shares during the quarter. Scotia Capital Inc.'s holdings in Jacobs Solutions were worth $1,992,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avalon Trust Co acquired a new position in Jacobs Solutions in the 4th quarter valued at about $33,000. Larson Financial Group LLC increased its holdings in Jacobs Solutions by 71.9% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company's stock valued at $37,000 after buying an additional 115 shares during the last quarter. Assetmark Inc. raised its position in shares of Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company's stock worth $45,000 after acquiring an additional 100 shares in the last quarter. Catalyst Capital Advisors LLC lifted its position in shares of Jacobs Solutions by 215.7% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company's stock worth $49,000 after buying an additional 248 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Jacobs Solutions during the fourth quarter worth about $65,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Robert W. Baird dropped their target price on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Citigroup decreased their price target on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Finally, Truist Financial dropped their target price on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Jacobs Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.14.

Jacobs Solutions Stock Up 0.5 %

Shares of J stock traded up $0.60 during trading hours on Friday, hitting $117.18. 655,536 shares of the company were exchanged, compared to its average volume of 773,451. The stock has a market capitalization of $14.36 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 1.84 and a beta of 0.73. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $156.31. The business's 50-day simple moving average is $122.64 and its two-hundred day simple moving average is $132.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25.

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. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The business's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.45 EPS. Sell-side analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Friday, February 21st. 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 initiated a stock repurchase plan on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to buy up to 9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

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.