Otter Creek Advisors LLC Takes $4.78 Million Position in Jacobs Solutions Inc. (NYSE:J)

Otter Creek Advisors LLC acquired a new stake in Jacobs Solutions Inc. (NYSE:J) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,800 shares of the company’s stock, valued at approximately $4,784,000. Jacobs Solutions accounts for about 3.3% of Otter Creek Advisors LLC’s holdings, making the stock its 16th biggest position.

Other large investors have also bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in shares of Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Empirical Finance LLC raised its position in shares of Jacobs Solutions by 1.9% during the third quarter. Empirical Finance LLC now owns 4,358 shares of the company’s stock worth $570,000 after purchasing an additional 82 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of Jacobs Solutions by 4.0% during the third quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock valued at $293,000 after purchasing an additional 86 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Jacobs Solutions by 10.6% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company’s stock valued at $128,000 after purchasing an additional 92 shares during the period. Finally, Greenleaf Trust increased its stake in Jacobs Solutions by 3.5% in the 4th quarter. Greenleaf Trust now owns 2,773 shares of the company’s stock worth $371,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Price Performance

NYSE J opened at $126.36 on Thursday. The company has a 50 day moving average price of $134.38 and a two-hundred day moving average price of $139.65. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54. The stock has a market capitalization of $15.48 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.84 and a beta of 0.72. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted $1.45 earnings per share. Jacobs Solutions’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions declared that its board has authorized a share buyback program on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to buy up to 9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Jacobs Solutions Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on J shares. Benchmark cut shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Citigroup decreased their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial increased their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Finally, StockNews.com initiated coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.89.

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.