Jacobs Solutions (NYSE:J – Free Report) had its price objective cut by Robert W. Baird from $154.00 to $148.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.
A number of other research analysts also recently weighed in on J. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Truist Financial upped their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. 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. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.89.
Jacobs Solutions Stock Performance
Jacobs Solutions (NYSE:J – Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.45 earnings per share. As a group, research analysts forecast that Jacobs Solutions will post 6.06 earnings per share for the current fiscal year.
Jacobs Solutions Increases Dividend
The company also recently declared 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 is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, February 21st. Jacobs Solutions’s dividend payout ratio (DPR) is currently 26.39%.
Jacobs Solutions announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to buy up to 9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of Jacobs Solutions by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock valued at $410,444,000 after acquiring an additional 73,566 shares during the last quarter. Ninety One UK Ltd boosted its holdings in Jacobs Solutions by 29.2% in the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock valued at $265,649,000 after purchasing an additional 449,161 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position 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 during the period. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $119,724,000 after buying an additional 78,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Jacobs Solutions by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company’s stock valued at $103,941,000 after buying an additional 17,372 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.
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.
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