Jacobs Solutions (NYSE:J) Given New $130.00 Price Target at Truist Financial

Jacobs Solutions (NYSE:J) had its target price lowered by Truist Financial from $141.00 to $130.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other brokerages have also recently commented on J. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Citigroup reduced their price target on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Robert W. Baird reduced their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Jacobs Solutions has an average rating of “Moderate Buy” and an average target price of $152.14.

Jacobs Solutions Price Performance

Jacobs Solutions stock opened at $110.52 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $125.64 and its 200 day simple moving average is $134.36. Jacobs Solutions has a 12 month low of $106.23 and a 12 month high of $156.31. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.84 and a beta of 0.73.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts forecast that Jacobs Solutions will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders 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 annualized dividend and a dividend yield of 1.16%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio (DPR) is presently 26.39%.

Jacobs Solutions declared that its Board of Directors has approved a stock buyback program on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Jacobs Solutions

Institutional investors have recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC increased its position in shares of 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 purchasing an additional 3,597,564 shares during the last quarter. Geode Capital Management LLC grew its position in 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 acquiring an additional 10,174 shares during the last quarter. Lazard Asset Management LLC grew its position in Jacobs Solutions by 933.6% during the fourth quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company’s stock valued at $281,808,000 after acquiring an additional 1,904,988 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock worth $265,649,000 after acquiring an additional 449,161 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Jacobs Solutions by 9.5% in 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 last quarter. Institutional investors own 85.65% of the company’s stock.

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.