Geode Capital Management LLC Purchases 10,174 Shares of Jacobs Solutions Inc. (NYSE:J)

Geode Capital Management LLC lifted its position in shares of Jacobs Solutions Inc. (NYSE:J) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,155,839 shares of the company’s stock after buying an additional 10,174 shares during the quarter. Geode Capital Management LLC’s holdings in Jacobs Solutions were worth $420,626,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. National Bank of Canada FI increased its holdings in Jacobs Solutions by 956.8% in the fourth quarter. National Bank of Canada FI now owns 264,824 shares of the company’s stock worth $35,386,000 after purchasing an additional 239,764 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Jacobs Solutions by 7.3% during the 4th quarter. Franklin Resources Inc. now owns 9,290 shares of the company’s stock valued at $1,241,000 after acquiring an additional 628 shares during the period. Cannell & Spears LLC bought a new position in Jacobs Solutions during the fourth quarter worth $5,271,000. Alliancebernstein L.P. boosted its stake in Jacobs Solutions by 7.0% during the fourth quarter. Alliancebernstein L.P. now owns 153,063 shares of the company’s stock worth $20,452,000 after acquiring an additional 10,043 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Jacobs Solutions by 12.9% in the fourth quarter. Wellington Management Group LLP now owns 284,247 shares of the company’s stock worth $37,981,000 after purchasing an additional 32,515 shares during the period. Institutional investors own 85.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on J shares. The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Citigroup reduced their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird lowered their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Truist Financial increased their target price on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $153.86.

Jacobs Solutions Stock Down 5.9 %

J stock opened at $111.47 on Friday. The firm has a market capitalization of $13.66 billion, a PE ratio of 22.98, a P/E/G ratio of 1.84 and a beta of 0.73. 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 Inc. has a twelve month low of $110.90 and a twelve month high of $156.31. The stock’s 50 day moving average is $127.24 and its 200-day moving average is $135.21.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data 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. The business 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%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS. Sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.15%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. Jacobs Solutions’s dividend payout ratio is presently 26.39%.

Jacobs Solutions declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.