Amalgamated Bank Boosts Holdings in Jacobs Solutions Inc. (NYSE:J)

Amalgamated Bank lifted its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,167 shares of the company’s stock after buying an additional 610 shares during the quarter. Amalgamated Bank’s holdings in Jacobs Solutions were worth $3,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Horizon Advisors Inc. grew its stake in Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Quarry LP grew its position in shares of Jacobs Solutions by 394.9% in the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock worth $38,000 after buying an additional 233 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Jacobs Solutions in the 3rd quarter worth about $42,000. True Wealth Design LLC purchased a new position in Jacobs Solutions during the 3rd quarter valued at about $44,000. Finally, Catalyst Capital Advisors LLC lifted its position in Jacobs Solutions by 215.7% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company’s stock valued at $49,000 after acquiring an additional 248 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Price Performance

Shares of NYSE:J opened at $128.22 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $15.71 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 1.84 and a beta of 0.72. The business has a 50-day simple moving average of $134.08 and a two-hundred day simple moving average of $139.45. Jacobs Solutions Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $150.54.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the company earned $1.45 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions declared that its board has authorized a share repurchase plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 9% of its shares through open market purchases. Shares repurchase plans are typically 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 paid a $0.32 dividend. This is an increase 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 1.00%. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio (DPR) is 26.39%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com initiated coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They set a “hold” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Truist Financial raised their price target on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, 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 note on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.