Jacobs Solutions Inc. (NYSE:J) Stake Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Jacobs Solutions Inc. (NYSE:J) by 0.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 82,360 shares of the company’s stock after buying an additional 264 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Jacobs Solutions were worth $11,005,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Jacobs Solutions by 4.3% in the third quarter. Principal Financial Group Inc. now owns 145,574 shares of the company’s stock valued at $19,056,000 after purchasing an additional 5,959 shares in the last quarter. Atria Investments Inc lifted its stake in Jacobs Solutions by 86.8% in the 3rd quarter. Atria Investments Inc now owns 14,852 shares of the company’s stock worth $1,944,000 after acquiring an additional 6,902 shares in the last quarter. Versor Investments LP acquired a new stake in Jacobs Solutions during the 3rd quarter worth about $406,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Jacobs Solutions by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 347,932 shares of the company’s stock valued at $45,544,000 after acquiring an additional 3,228 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Jacobs Solutions in the 3rd quarter valued at about $709,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Price Performance

Shares of NYSE:J opened at $121.74 on Thursday. The stock has a market capitalization of $14.92 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.84 and a beta of 0.77. The business has a 50-day moving average of $132.26 and a two-hundred day moving average of $138.08. Jacobs Solutions Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $150.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the company earned $1.45 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

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

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 1.05%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 26.39%.

Analyst Upgrades and Downgrades

J has been the subject of several research reports. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Citigroup decreased their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com assumed coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating on the stock. Benchmark lowered Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Truist Financial boosted 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. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.