Jacobs Solutions Inc. (NYSE:J) Short Interest Down 10.8% in January

Jacobs Solutions Inc. (NYSE:J) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,740,000 shares, a decline of 10.8% from the January 15th total of 1,950,000 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily volume of 807,700 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on J. Royal Bank of Canada reaffirmed an “outperform” rating and set a $152.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Citigroup decreased 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 note on Wednesday, January 29th. Truist Financial lifted their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Finally, Benchmark lowered Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.89.

Institutional Investors Weigh In On Jacobs Solutions

Several large investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. grew its position in shares of Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Empirical Finance LLC lifted its stake in Jacobs Solutions by 1.9% in the third quarter. Empirical Finance LLC now owns 4,358 shares of the company’s stock worth $570,000 after acquiring an additional 82 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Jacobs Solutions by 0.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 11,006 shares of the company’s stock worth $1,471,000 after acquiring an additional 83 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in Jacobs Solutions by 4.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock valued at $293,000 after purchasing an additional 86 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in shares of Jacobs Solutions by 5.3% in the 4th quarter. Benjamin Edwards Inc. now owns 1,731 shares of the company’s stock valued at $231,000 after purchasing an additional 87 shares in the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Trading Up 1.2 %

Jacobs Solutions stock traded up $1.49 during midday trading on Tuesday, reaching $130.37. The stock had a trading volume of 968,661 shares, compared to its average volume of 774,047. Jacobs Solutions has a 52-week low of $110.95 and a 52-week high of $150.54. The company has a fifty day moving average of $135.32 and a 200 day moving average of $140.26. The firm has a market cap of $15.98 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the company earned $1.45 EPS. Jacobs Solutions’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Jacobs Solutions will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The business 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 $0.32 dividend. The ex-dividend date is Friday, February 21st. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. Jacobs Solutions’s dividend payout ratio is presently 23.92%.

Jacobs Solutions announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to reacquire up to 9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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.