Gibraltar Capital Management Inc. Takes Position in Jacobs Solutions Inc. (NYSE:J)

Gibraltar Capital Management Inc. acquired a new position in shares of Jacobs Solutions Inc. (NYSE:J) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 49,179 shares of the company’s stock, valued at approximately $6,571,000. Jacobs Solutions makes up 2.9% of Gibraltar Capital Management Inc.’s holdings, making the stock its 19th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its holdings in shares of Jacobs Solutions by 44.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Quarry LP increased its holdings in Jacobs Solutions by 394.9% in the third quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after buying an additional 233 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Jacobs Solutions in the third quarter valued at approximately $42,000. True Wealth Design LLC purchased a new position in shares of Jacobs Solutions during the third quarter worth 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 worth $49,000 after acquiring an additional 248 shares during the period. 85.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Benchmark lowered Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Robert W. Baird decreased 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. Citigroup cut 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. Finally, Truist Financial boosted their target price on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Jacobs Solutions has an average rating of “Moderate Buy” and an average target price of $155.89.

Jacobs Solutions Price Performance

Shares of J opened at $127.02 on Wednesday. Jacobs Solutions Inc. has a 52 week low of $110.95 and a 52 week high of $150.54. The stock has a 50 day moving average of $134.51 and a 200-day moving average of $139.74. 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 firm has a market cap of $15.57 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 1.84 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last announced 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 return on equity of 14.87% and a net margin of 4.28%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. As a group, analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a dividend of $0.32 per share. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.01%. Jacobs Solutions’s payout ratio is currently 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 repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Jacobs Solutions 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.