Commonwealth Equity Services LLC Boosts Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Commonwealth Equity Services LLC grew its position in shares of Jacobs Solutions Inc. (NYSE:J) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,039 shares of the company’s stock after acquiring an additional 4,122 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of Jacobs Solutions worth $11,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its holdings in Jacobs Solutions by 44.3% during 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. Larson Financial Group LLC boosted its holdings in shares of Jacobs Solutions by 71.9% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock worth $37,000 after buying an additional 115 shares during the last quarter. Quarry LP boosted its holdings in shares of Jacobs Solutions by 394.9% in the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock worth $38,000 after buying an additional 233 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of Jacobs Solutions in the 3rd quarter worth about $44,000. Finally, Assetmark Inc. boosted its holdings in shares of Jacobs Solutions by 42.7% in the 4th quarter. Assetmark Inc. now owns 334 shares of the company’s stock worth $45,000 after buying an additional 100 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

J has been the topic of a number of research analyst reports. 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 report on Wednesday, January 29th. Truist Financial boosted their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. The Goldman Sachs Group reissued a “neutral” rating and issued a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Finally, StockNews.com started coverage on shares of Jacobs Solutions in a report 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $153.63.

Jacobs Solutions Price Performance

NYSE J opened at $122.65 on Wednesday. The firm’s 50-day simple moving average is $131.36 and its two-hundred day simple moving average is $137.19. Jacobs Solutions Inc. has a 52 week low of $118.71 and a 52 week high of $156.31. The company has a market cap of $15.03 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. 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 announced its quarterly earnings results 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 firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the business posted $1.45 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be given a dividend of $0.32 per share. The ex-dividend date is Friday, February 21st. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 1.04%. Jacobs Solutions’s dividend payout ratio is currently 26.39%.

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.