Jacobs Solutions Inc. (NYSE:J) Holdings Boosted by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 20.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,159 shares of the company’s stock after purchasing an additional 45,666 shares during the period. Jacobs Solutions comprises 2.5% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 9th biggest position. Cidel Asset Management Inc. owned about 0.22% of Jacobs Solutions worth $36,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of J. Ninety One UK Ltd raised its position in shares of 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 buying an additional 449,161 shares during the last quarter. Sessa Capital IM L.P. purchased a new stake in Jacobs Solutions during the 3rd quarter valued at about $46,168,000. Soros Fund Management LLC raised its holdings in Jacobs Solutions by 34.3% in the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock valued at $65,569,000 after acquiring an additional 127,874 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Jacobs Solutions by 28.1% in the 3rd 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Price Performance

Shares of J opened at $133.97 on Friday. The firm has a 50-day simple moving average of $136.30 and a two-hundred day simple moving average of $141.08. The stock has a market cap of $16.42 billion, a PE ratio of 21.16, a P/E/G ratio of 2.11 and a beta of 0.72. Jacobs Solutions Inc. has a 1-year low of $110.95 and a 1-year 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.

Jacobs Solutions (NYSE:J) last posted 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. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. During the same quarter last year, the firm earned $1.45 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts forecast 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 issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Friday, February 21st. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is currently 26.39%.

Jacobs Solutions declared that its board has authorized a stock repurchase plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently commented on J. Citigroup cut their price target on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial raised their target price on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. StockNews.com initiated coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, Robert W. Baird reduced their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.89.

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.