Allspring Global Investments Holdings LLC increased its stake in shares of Jacobs Solutions Inc. (NYSE:J – Free Report) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,436,115 shares of the company’s stock after purchasing an additional 4,187 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Jacobs Solutions were worth $323,916,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. First Horizon Advisors Inc. raised its position in shares of Jacobs Solutions by 44.3% in 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. Quarry LP grew its stake in Jacobs Solutions by 394.9% in the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after buying an additional 233 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Jacobs Solutions in the 3rd quarter worth $42,000. True Wealth Design LLC acquired a new position in Jacobs Solutions during the 3rd quarter worth $44,000. Finally, GAMMA Investing LLC lifted its position in Jacobs Solutions by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock worth $53,000 after acquiring an additional 145 shares during the last quarter. 85.65% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently commented on J shares. StockNews.com started coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. 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 report on Thursday, December 19th. Citigroup reduced their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Finally, Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.89.
Jacobs Solutions Stock Down 0.9 %
Shares of NYSE J opened at $133.21 on Wednesday. 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 quick ratio of 1.20 and a current ratio of 1.25. The business has a fifty day moving average of $136.06 and a two-hundred day moving average of $140.80. The stock has a market cap of $16.32 billion, a PE ratio of 27.47, a PEG ratio of 1.88 and a beta of 0.72.
Jacobs Solutions (NYSE:J – Get Free Report) last announced 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 firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $1.45 EPS. As a group, equities research analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.
Jacobs Solutions Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio (DPR) is presently 23.92%.
Jacobs Solutions declared that its Board of Directors has approved a share buyback plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are 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.
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