Jacobs Solutions Inc. (NYSE:J) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 144.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,558 shares of the company's stock after buying an additional 75,377 shares during the quarter. Van ECK Associates Corp owned about 0.10% of Jacobs Solutions worth $17,044,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ninety One UK Ltd increased its stake in Jacobs Solutions by 29.2% in the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock valued at $265,649,000 after buying an additional 449,161 shares during the period. Sessa Capital IM L.P. acquired a new position in Jacobs Solutions in the 3rd quarter valued at $46,168,000. Soros Fund Management LLC increased its stake in Jacobs Solutions by 34.3% in the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company's stock valued at $65,569,000 after buying an additional 127,874 shares during the period. Thrivent Financial for Lutherans increased its stake in Jacobs Solutions by 28.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company's stock valued at $70,296,000 after buying an additional 117,940 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Jacobs Solutions by 19.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company's stock valued at $85,099,000 after buying an additional 107,849 shares during the period. Hedge funds and other institutional investors own 85.65% of the company's stock.

Jacobs Solutions Trading Down 0.1 %

J stock traded down $0.12 during trading on Wednesday, reaching $130.31. 668,765 shares of the stock traded hands, compared to its average volume of 770,755. The business's 50 day moving average price is $135.21 and its 200-day moving average price is $140.17. Jacobs Solutions Inc. has a 52-week low of $110.95 and a 52-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 $15.97 billion, a PE ratio of 26.87, a P/E/G ratio of 1.82 and a beta of 0.72.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its 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 company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the business earned $1.45 earnings per share. The company's revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

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

Jacobs Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be given a $0.32 dividend. This is an increase from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 0.98%. Jacobs Solutions's dividend payout ratio is presently 23.92%.

Analysts Set New Price Targets

J has been the topic of a number of research reports. Royal Bank of Canada restated an "outperform" rating and issued a $152.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Truist Financial upped their price target on Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Robert W. Baird lowered their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. StockNews.com initiated coverage on Jacobs Solutions in a report on Wednesday, December 4th. They issued a "hold" rating on the stock. Finally, Citigroup dropped their price target on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $155.89.

About Jacobs Solutions

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.