Jacobs Solutions Inc. (NYSE:J) Shares Purchased by Ninety One UK Ltd

Ninety One UK Ltd raised its position in Jacobs Solutions Inc. (NYSE:J) by 29.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,988,092 shares of the company’s stock after acquiring an additional 449,161 shares during the quarter. Ninety One UK Ltd owned approximately 1.60% of Jacobs Solutions worth $265,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of J. Geode Capital Management LLC raised its holdings in Jacobs Solutions by 2.4% in the third 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 in the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Jacobs Solutions by 3.2% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock valued at $143,263,000 after purchasing an additional 32,650 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Jacobs Solutions by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 760,516 shares of the company’s stock valued at $99,552,000 after purchasing an additional 14,405 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Jacobs Solutions by 19.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company’s stock worth $85,099,000 after purchasing an additional 107,849 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Jacobs Solutions by 28.1% during the third quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock worth $70,296,000 after purchasing an additional 117,940 shares in the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Robert W. Baird upped their price target on Jacobs Solutions from $147.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. StockNews.com assumed coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating on the stock. 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. Finally, Citigroup cut 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. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Jacobs Solutions Price Performance

Shares of NYSE:J opened at $133.89 on Wednesday. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54. The stock has a market capitalization of $16.61 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 2.11 and a beta of 0.72. The company has a 50-day simple moving average of $136.77 and a 200-day simple moving average of $141.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.20 and a current ratio of 1.20.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 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 during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the business earned $1.45 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that Jacobs Solutions Inc. will post 6.06 EPS for the current year.

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.96%. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. Jacobs Solutions’s dividend payout ratio (DPR) is 18.33%.

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

About Jacobs Solutions

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.