WASHINGTON TRUST Co Grows Stock Position in Jacobs Solutions Inc. (NYSE:J)

WASHINGTON TRUST Co boosted its position in shares of Jacobs Solutions Inc. (NYSE:J) by 8.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,330 shares of the company’s stock after buying an additional 10,133 shares during the quarter. WASHINGTON TRUST Co’s holdings in Jacobs Solutions were worth $16,880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Heritage Family Offices LLP increased its stake in Jacobs Solutions by 55.7% in the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock worth $1,993,000 after purchasing an additional 5,332 shares during the period. Stratos Wealth Partners LTD. increased its stake in Jacobs Solutions by 1.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock worth $1,305,000 after buying an additional 175 shares during the period. Occidental Asset Management LLC lifted its holdings in Jacobs Solutions by 11.7% during the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after buying an additional 2,619 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Jacobs Solutions by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock valued at $56,778,000 after buying an additional 47,211 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Jacobs Solutions in the 3rd quarter valued at about $3,205,000. Institutional investors own 85.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on J. StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They set a “hold” rating for the company. 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. The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Citigroup decreased their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Robert W. Baird dropped their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Jacobs Solutions has a consensus rating of “Moderate Buy” and an average target price of $155.89.

Jacobs Solutions Stock Performance

Shares of Jacobs Solutions stock opened at $128.81 on Friday. The company has a market capitalization of $15.78 billion, a PE ratio of 26.56, a P/E/G ratio of 1.88 and a beta of 0.72. The company has a 50-day simple moving average of $135.65 and a two-hundred day simple moving average of $140.57. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.20 and a current ratio of 1.25.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $2.92 billion. During the same quarter in the previous year, the business posted $1.45 EPS. Jacobs Solutions’s revenue was up 4.4% on a year-over-year basis. Research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

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

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is currently 23.92%.

About Jacobs Solutions

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.