QRG Capital Management Inc. Increases Holdings in Jacobs Solutions Inc. (NYSE:J)

QRG Capital Management Inc. lifted its holdings in Jacobs Solutions Inc. (NYSE:J) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,039 shares of the company’s stock after acquiring an additional 2,431 shares during the period. QRG Capital Management Inc.’s holdings in Jacobs Solutions were worth $9,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its stake in shares of Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Empirical Finance LLC grew its holdings in Jacobs Solutions by 1.9% during the 3rd quarter. Empirical Finance LLC now owns 4,358 shares of the company’s stock valued at $570,000 after purchasing an additional 82 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in Jacobs Solutions by 4.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock valued at $293,000 after purchasing an additional 86 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Jacobs Solutions by 10.6% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company’s stock worth $128,000 after purchasing an additional 92 shares during the period. Finally, Greenleaf Trust lifted its stake in Jacobs Solutions by 3.5% in the fourth quarter. Greenleaf Trust now owns 2,773 shares of the company’s stock worth $371,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

Shares of Jacobs Solutions stock opened at $126.46 on Friday. The company has a market capitalization of $15.50 billion, a PE ratio of 26.07, a P/E/G ratio of 1.84 and a beta of 0.72. The company has a 50-day simple moving average of $134.23 and a two-hundred day simple moving average of $139.56. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping the consensus estimate 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 4.28% and a return on equity of 14.87%. Jacobs Solutions’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.45 EPS. Research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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 given a $0.32 dividend. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.01%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 26.39%.

Wall Street Analysts Forecast Growth

J has been the topic of a number of analyst reports. Robert W. Baird cut their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. StockNews.com initiated coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Finally, 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. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Jacobs Solutions has an average rating of “Moderate Buy” and an average target price of $155.89.

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.