Korea Investment CORP Has $18.05 Million Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Korea Investment CORP decreased its position in Jacobs Solutions Inc. (NYSE:J) by 31.8% during the 4th quarter, Holdings Channel reports. The firm owned 135,100 shares of the company’s stock after selling 62,872 shares during the quarter. Korea Investment CORP’s holdings in Jacobs Solutions were worth $18,052,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Heritage Family Offices LLP increased its holdings in shares of Jacobs Solutions by 55.7% during the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock worth $1,993,000 after buying an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Jacobs Solutions by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock worth $1,305,000 after acquiring an additional 175 shares during the last quarter. Occidental Asset Management LLC increased its holdings in Jacobs Solutions by 11.7% during the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after purchasing an additional 2,619 shares in the last quarter. JPMorgan Chase & Co. raised its position in Jacobs Solutions by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock valued at $56,778,000 after purchasing an additional 47,211 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Jacobs Solutions in the 3rd quarter valued at $3,205,000. 85.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on J shares. Truist Financial raised their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. StockNews.com initiated coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $152.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Citigroup decreased their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jacobs Solutions has an average rating of “Hold” and an average target price of $153.63.

Jacobs Solutions Stock Performance

Shares of Jacobs Solutions stock opened at $121.25 on Friday. Jacobs Solutions Inc. has a 52 week low of $118.71 and a 52 week high of $156.31. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.84 and a beta of 0.77. The firm has a fifty day moving average of $129.38 and a two-hundred day moving average of $135.98.

Jacobs Solutions (NYSE:J) last released its earnings results 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. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities research analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.06%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is currently 26.39%.

Jacobs Solutions announced that its board has authorized a stock buyback program on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Jacobs Solutions 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.