QRG Capital Management Inc. Raises Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

QRG Capital Management Inc. raised its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 3.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 69,039 shares of the company’s stock after acquiring an additional 2,431 shares during the period. QRG Capital Management Inc. owned approximately 0.06% of Jacobs Solutions worth $9,225,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Private Advisor Group LLC grew its holdings in shares of Jacobs Solutions by 9.9% in the third quarter. Private Advisor Group LLC now owns 13,447 shares of the company’s stock worth $1,760,000 after acquiring an additional 1,210 shares during the period. International Assets Investment Management LLC grew its stake in shares of Jacobs Solutions by 12,990.4% during the 3rd quarter. International Assets Investment Management LLC now owns 13,614 shares of the company’s stock valued at $1,782,000 after purchasing an additional 13,510 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Jacobs Solutions by 67.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,686 shares of the company’s stock valued at $744,000 after purchasing an additional 2,285 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Jacobs Solutions by 41.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,488 shares of the company’s stock worth $1,111,000 after purchasing an additional 2,473 shares during the period. Finally, abrdn plc boosted its holdings in shares of Jacobs Solutions by 7.7% in the third quarter. abrdn plc now owns 65,150 shares of the company’s stock worth $8,547,000 after buying an additional 4,634 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Trading Up 0.0 %

J stock opened at $126.46 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. Jacobs Solutions Inc. has a 1-year low of $110.95 and a 1-year high of $150.54. The business has a 50 day simple moving average of $134.23 and a two-hundred day simple moving average of $139.56. The company has a market capitalization of $15.50 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 1.84 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates 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 for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.45 earnings per share. Research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.01%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s payout ratio is 26.39%.

Jacobs Solutions announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Truist Financial lifted their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. StockNews.com began coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Citigroup lowered their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $152.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.89.

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.