Summit Trail Advisors LLC Acquires New Holdings in Jacobs Solutions Inc. (NYSE:J)

Summit Trail Advisors LLC bought a new position in shares of Jacobs Solutions Inc. (NYSE:J) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,111 shares of the company’s stock, valued at approximately $416,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ninety One UK Ltd grew 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 purchasing an additional 449,161 shares during the last quarter. Sessa Capital IM L.P. acquired a new position in shares of Jacobs Solutions during the 3rd quarter worth about $46,168,000. Soros Fund Management LLC boosted its stake in Jacobs Solutions by 34.3% during the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock valued at $65,569,000 after purchasing an additional 127,874 shares during the period. Thrivent Financial for Lutherans grew its holdings in Jacobs Solutions by 28.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock valued at $70,296,000 after buying an additional 117,940 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Jacobs Solutions by 19.9% in 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 buying an additional 107,849 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Robert W. Baird cut their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Finally, Truist Financial boosted their price target 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.89.

Jacobs Solutions Trading Down 2.3 %

Shares of J opened at $130.19 on Thursday. Jacobs Solutions Inc. has a 1 year low of $110.95 and a 1 year high of $150.54. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $135.96 and a 200-day simple moving average of $140.71. The stock has a market cap of $15.95 billion, a PE ratio of 26.84, a PEG ratio of 1.88 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results 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 14.87% and a net margin of 4.28%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. Jacobs Solutions’s quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be issued a dividend of $0.32 per share. 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 0.98%. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio (DPR) is currently 23.92%.

Jacobs Solutions announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management 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.