Cannell & Spears LLC Makes New Investment in Jacobs Solutions Inc. (NYSE:J)

Cannell & Spears LLC bought a new stake in Jacobs Solutions Inc. (NYSE:J) in the 4th quarter, HoldingsChannel.com reports. The firm bought 39,451 shares of the company’s stock, valued at approximately $5,271,000.

A number of other hedge funds have also recently modified their holdings of J. Geode Capital Management LLC lifted its stake in Jacobs Solutions by 2.4% in the third quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock valued at $410,444,000 after buying an additional 73,566 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of Jacobs Solutions by 29.2% in the 4th 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. Kovitz Investment Group Partners LLC raised its position in Jacobs Solutions by 3.2% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock valued at $143,263,000 after purchasing an additional 32,650 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Jacobs Solutions by 9.6% during the 4th quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock worth $119,724,000 after purchasing an additional 78,284 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Jacobs Solutions by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company’s stock worth $103,941,000 after purchasing an additional 17,372 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Price Performance

Jacobs Solutions stock opened at $121.04 on Tuesday. The company has a market cap of $14.83 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a one year low of $118.67 and a one year high of $156.31. The business has a fifty day moving average of $129.02 and a two-hundred day moving average of $135.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS 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 quarter last year, the business earned $1.45 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The company also recently declared 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 represents a $1.28 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is currently 26.39%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Truist Financial upped their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a 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 note on Wednesday, January 29th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Robert W. Baird cut their price target on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Finally, StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Jacobs Solutions has a consensus rating of “Hold” and a consensus price target of $153.63.

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.