Jacobs Solutions Inc. (NYSE:J) Shares Sold by Bancreek Capital Management LP

Bancreek Capital Management LP cut its stake in Jacobs Solutions Inc. (NYSE:J) by 31.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,133 shares of the company’s stock after selling 17,155 shares during the quarter. Jacobs Solutions makes up approximately 5.0% of Bancreek Capital Management LP’s investment portfolio, making the stock its 12th largest position. Bancreek Capital Management LP’s holdings in Jacobs Solutions were worth $5,095,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of 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 valued at $32,000 after acquiring an additional 74 shares during the period. OneDigital Investment Advisors LLC grew its holdings in Jacobs Solutions by 4.0% in the third 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. Evoke Wealth LLC increased its position in shares of Jacobs Solutions by 0.7% in the fourth quarter. Evoke Wealth LLC now owns 12,385 shares of the company’s stock valued at $1,655,000 after buying an additional 88 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Jacobs Solutions by 10.6% during the 4th 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 during the period. Finally, Greenleaf Trust lifted its position in shares of Jacobs Solutions by 3.5% during the 4th quarter. Greenleaf Trust now owns 2,773 shares of the company’s stock valued at $371,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on J shares. StockNews.com began coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating for the company. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Robert W. Baird lowered their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Finally, Citigroup lowered their price target on 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $153.63.

Jacobs Solutions Stock Down 0.5 %

Shares of J opened at $121.23 on Friday. Jacobs Solutions Inc. has a 52-week low of $118.71 and a 52-week high of $156.31. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $130.74 and a two-hundred day simple moving average of $136.79. The company has a market capitalization of $14.86 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77.

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

Jacobs Solutions announced that its board has approved a share buyback plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were issued a $0.32 dividend. The ex-dividend date of this dividend was 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 yield of 1.06%. Jacobs Solutions’s dividend payout ratio is currently 26.39%.

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.