WASHINGTON TRUST Co Boosts Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

WASHINGTON TRUST Co boosted its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 8.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 126,330 shares of the company's stock after purchasing an additional 10,133 shares during the period. WASHINGTON TRUST Co owned about 0.10% of Jacobs Solutions worth $16,880,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in J. First Horizon Advisors Inc. grew its holdings in Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company's stock valued at $32,000 after purchasing an additional 74 shares during the period. Empirical Finance LLC raised its holdings in shares of Jacobs Solutions by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 4,358 shares of the company's stock valued at $570,000 after buying an additional 82 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in Jacobs Solutions by 4.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company's stock worth $293,000 after buying an additional 86 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Jacobs Solutions by 10.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company's stock worth $128,000 after buying an additional 92 shares in the last quarter. Finally, Greenleaf Trust grew its position in Jacobs Solutions by 3.5% during the fourth quarter. Greenleaf Trust now owns 2,773 shares of the company's stock valued at $371,000 after acquiring an additional 95 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Stock Down 0.1 %

Shares of J stock traded down $0.12 during midday trading on Wednesday, reaching $130.31. 703,994 shares of the stock were exchanged, compared to its average volume of 771,856. 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 1 year low of $110.95 and a 1 year high of $150.54. The firm has a market cap of $15.97 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.82 and a beta of 0.72. The company's 50 day moving average is $135.21 and its two-hundred day moving average is $140.17.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $2.92 billion. During the same quarter last year, the company earned $1.45 EPS. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

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

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 0.98%. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions's dividend payout ratio is presently 23.92%.

Analyst Upgrades and Downgrades

J has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $152.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 3rd. StockNews.com started coverage on Jacobs Solutions in a report on Wednesday, December 4th. They issued a "hold" rating on the stock. Robert W. Baird dropped their target price on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Truist Financial lifted their price target on Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $155.89.

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.