Jacobs Solutions Inc. (NYSE:J) Sees Significant Growth in Short Interest

Jacobs Solutions Inc. (NYSE:J) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 2,660,000 shares, an increase of 52.9% from the January 31st total of 1,740,000 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average trading volume of 819,900 shares, the days-to-cover ratio is currently 3.2 days.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on J shares. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Robert W. Baird decreased 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 report on Wednesday, February 5th. StockNews.com started coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Citigroup reduced 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 report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.89.

Jacobs Solutions Price Performance

Shares of NYSE:J opened at $128.22 on Monday. The firm has a market cap of $15.71 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 1.84 and a beta of 0.72. The firm’s fifty day moving average is $134.08 and its 200-day moving average is $139.38. 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 has a 52 week low of $110.95 and a 52 week high of $150.54.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $2.93 billion for 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 for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 earnings per share. Sell-side analysts predict that Jacobs Solutions will post 6.05 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be paid a $0.32 dividend. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, February 21st. Jacobs Solutions’s payout ratio is 26.39%.

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

Institutional Investors Weigh In On Jacobs Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. Heritage Family Offices LLP increased its position 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 acquiring an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Jacobs Solutions by 1.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock worth $1,305,000 after purchasing an additional 175 shares in the last quarter. Occidental Asset Management LLC grew its position in Jacobs Solutions by 11.7% in the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock worth $3,347,000 after purchasing an additional 2,619 shares in the last quarter. JPMorgan Chase & Co. grew 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 worth $56,778,000 after purchasing an additional 47,211 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Jacobs Solutions in the 3rd quarter worth about $3,205,000. 85.65% of the stock is owned by institutional investors.

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.