Wellington Management Group LLP Purchases 32,515 Shares of Jacobs Solutions Inc. (NYSE:J)

Wellington Management Group LLP raised its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 12.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 284,247 shares of the company's stock after acquiring an additional 32,515 shares during the quarter. Wellington Management Group LLP owned approximately 0.23% of Jacobs Solutions worth $37,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in J. FMR LLC raised its holdings in Jacobs Solutions by 3.9% during the third quarter. FMR LLC now owns 79,358 shares of the company's stock worth $10,388,000 after acquiring an additional 3,011 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Jacobs Solutions by 27,300.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,644 shares of the company's stock worth $215,000 after purchasing an additional 1,638 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Jacobs Solutions by 2.4% during the 3rd quarter. Janus Henderson Group PLC now owns 32,059 shares of the company's stock worth $4,197,000 after purchasing an additional 744 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Jacobs Solutions by 6.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,692 shares of the company's stock valued at $614,000 after buying an additional 279 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Jacobs Solutions in the third quarter valued at $1,756,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup dropped 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 dropped their target price on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday. Finally, Robert W. Baird reduced their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.14.

Jacobs Solutions Stock Performance

Shares of NYSE:J traded up $1.49 during trading on Friday, reaching $116.34. 914,223 shares of the stock were exchanged, compared to its average volume of 772,864. Jacobs Solutions Inc. has a 12 month low of $106.23 and a 12 month high of $156.31. The stock has a 50-day moving average price of $123.95 and a 200-day moving average price of $133.53. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The firm has a market cap of $14.26 billion, a PE ratio of 23.99, a PEG ratio of 1.84 and a beta of 0.73.

Jacobs Solutions (NYSE:J - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the company posted $1.45 EPS. The firm's quarterly revenue was up 4.4% on a year-over-year basis. Research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions declared that its Board of Directors has initiated a share buyback program on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The firm also recently declared 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 yield of 1.10%. This is a positive change from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions's dividend payout ratio (DPR) is currently 26.39%.

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.