Jacobs Solutions Inc. (NYSE:J) Stock Holdings Lifted by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 34.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,554 shares of the company’s stock after acquiring an additional 4,488 shares during the quarter. DAVENPORT & Co LLC’s holdings in Jacobs Solutions were worth $2,345,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. First Horizon Advisors Inc. grew its position 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 purchasing an additional 74 shares in the last quarter. Quarry LP grew its holdings in shares of Jacobs Solutions by 394.9% during the third quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after buying an additional 233 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Jacobs Solutions in the 3rd quarter worth about $42,000. True Wealth Design LLC acquired a new stake in Jacobs Solutions during the 3rd quarter worth about $44,000. Finally, GAMMA Investing LLC grew its stake in Jacobs Solutions by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock valued at $53,000 after acquiring an additional 145 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Stock Performance

NYSE J opened at $133.89 on Wednesday. The company’s fifty day moving average is $136.77 and its two-hundred day moving average is $141.29. Jacobs Solutions Inc. has a 52-week low of $110.95 and a 52-week high of $150.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $16.61 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.11 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the company posted $1.45 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Jacobs Solutions Inc. will post 6.06 EPS for the current year.

Jacobs Solutions declared that its board has approved a share repurchase program on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 0.96%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is currently 18.33%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on J. 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 report on Wednesday, January 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Truist Financial boosted 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. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jacobs Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

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.