iA Global Asset Management Inc. Takes Position in Jacobs Solutions Inc. (NYSE:J)

iA Global Asset Management Inc. purchased a new stake in Jacobs Solutions Inc. (NYSE:J) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,531 shares of the company’s stock, valued at approximately $1,274,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Jacobs Solutions by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock worth $410,444,000 after purchasing an additional 73,566 shares in the last quarter. Ninety One UK Ltd increased its stake in Jacobs Solutions by 29.2% during the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock worth $265,649,000 after purchasing an additional 449,161 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in Jacobs Solutions by 3.2% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock worth $143,263,000 after purchasing an additional 32,650 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Jacobs Solutions by 9.6% during the 4th quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock worth $119,724,000 after purchasing an additional 78,284 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Jacobs Solutions by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company’s stock worth $103,941,000 after purchasing an additional 17,372 shares in the last quarter. 85.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on J shares. Robert W. Baird lowered their target price 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. Citigroup decreased their price target 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 raised their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Jacobs Solutions currently has an average rating of “Hold” and a consensus price target of $153.63.

Jacobs Solutions Trading Down 0.5 %

NYSE J opened at $121.23 on Friday. The company has a market cap of $14.86 billion, a PE ratio of 24.99, a PEG ratio of 1.84 and a beta of 0.77. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a 12 month low of $118.71 and a 12 month high of $156.31. The stock has a 50 day moving average of $130.74 and a 200-day moving average of $136.79.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.45 EPS. On average, equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

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

Jacobs Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Friday, February 21st. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is presently 26.39%.

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.