Jacobs Solutions (NYSE:J) Sets New 12-Month Low – Here’s Why

Jacobs Solutions Inc. (NYSE:J) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $118.67 and last traded at $120.43, with a volume of 29470 shares trading hands. The stock had previously closed at $121.22.

Analyst Upgrades and Downgrades

J has been the topic of several research reports. StockNews.com assumed coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating on the stock. Citigroup decreased their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial raised their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Robert W. Baird decreased their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $153.63.

Jacobs Solutions Stock Performance

The company’s 50-day simple moving average is $129.38 and its 200 day simple moving average is $135.94. The stock has a market cap of $14.74 billion, a P/E ratio of 24.82, a PEG ratio of 1.84 and a beta of 0.77. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41.

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

Jacobs Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.06%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. Jacobs Solutions’s payout ratio is presently 26.39%.

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

Hedge Funds Weigh In On Jacobs Solutions

Institutional investors have recently bought and sold shares of the company. Kovitz Investment Group Partners LLC raised its holdings in Jacobs Solutions by 345.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company’s stock valued at $619,676,000 after acquiring an additional 3,597,564 shares during the period. Geode Capital Management LLC increased its position in shares of Jacobs Solutions by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 3,155,839 shares of the company’s stock valued at $420,626,000 after buying an additional 10,174 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Jacobs Solutions by 933.6% in the fourth quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company’s stock worth $281,808,000 after buying an additional 1,904,988 shares in the last quarter. Ninety One UK Ltd boosted its position in shares of Jacobs Solutions by 29.2% in the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock valued at $265,649,000 after acquiring an additional 449,161 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Jacobs Solutions by 9.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,809,207 shares of the company’s stock worth $241,746,000 after acquiring an additional 157,086 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

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.