Ieq Capital LLC Grows Position in Jacobs Solutions Inc. (NYSE:J)

Ieq Capital LLC raised its holdings in Jacobs Solutions Inc. (NYSE:J) by 253.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,955 shares of the company’s stock after purchasing an additional 15,027 shares during the period. Ieq Capital LLC’s holdings in Jacobs Solutions were worth $2,800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Keene & Associates Inc. purchased a new stake in Jacobs Solutions during the 4th quarter worth about $2,973,000. Bank of Jackson Hole Trust bought a new stake in shares of Jacobs Solutions during the fourth quarter valued at about $653,000. Venturi Wealth Management LLC increased its position in shares of Jacobs Solutions by 584.3% during the fourth quarter. Venturi Wealth Management LLC now owns 787 shares of the company’s stock valued at $105,000 after buying an additional 672 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Jacobs Solutions by 7.9% in the fourth quarter. D.A. Davidson & CO. now owns 7,370 shares of the company’s stock worth $985,000 after buying an additional 537 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of Jacobs Solutions by 6.0% in the fourth quarter. Truist Financial Corp now owns 70,341 shares of the company’s stock valued at $9,399,000 after acquiring an additional 4,000 shares during the period. Institutional investors own 85.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on J. Truist Financial upped their target price 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. Citigroup decreased 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. Robert W. Baird dropped their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Finally, StockNews.com started coverage on Jacobs Solutions in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Jacobs Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $155.89.

Jacobs Solutions Trading Down 0.8 %

Shares of J stock opened at $129.12 on Friday. The business has a 50-day moving average price of $134.83 and a two-hundred day moving average price of $139.95. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The firm has a market cap of $15.82 billion, a P/E ratio of 26.62, a price-to-earnings-growth 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 analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. Jacobs Solutions’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.45 EPS. Equities analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

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 $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. 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. Jacobs Solutions’s payout ratio is presently 23.92%.

Jacobs Solutions declared that its board has approved a stock buyback plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.