Jacobs Solutions Inc. (NYSE:J) Shares Acquired by Bank of Nova Scotia

Key Points

• The Bank of Nova Scotia increased its stake in Jacobs Solutions Inc. by 15.2% in Q1, owning approximately 0.11% of the company valued at $15.70 million.
• Several institutional investors significantly increased their holdings in Jacobs Solutions recently, with Kovitz Investment Group and Lazard Asset Management increasing their stakes by 345.9% and 933.6%, respectively.
• Jacobs Solutions announced a quarterly dividend of $0.32 per share, representing a yield of 0.9%, with the payment date set for September 19th and the ex-dividend date on August 22nd.

Bank of Nova Scotia lifted its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,887 shares of the company's stock after buying an additional 17,120 shares during the quarter. Bank of Nova Scotia owned about 0.11% of Jacobs Solutions worth $15,702,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Benjamin Edwards Inc. lifted its position in shares of Jacobs Solutions by 5.3% in the fourth quarter. Benjamin Edwards Inc. now owns 1,731 shares of the company's stock worth $231,000 after purchasing an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in Jacobs Solutions by 4.3% during the first quarter. Avidian Wealth Enterprises LLC now owns 2,111 shares of the company's stock worth $255,000 after acquiring an additional 87 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in Jacobs Solutions by 2.6% during the first quarter. Kestra Private Wealth Services LLC now owns 4,220 shares of the company's stock worth $510,000 after acquiring an additional 108 shares in the last quarter. Ameritas Advisory Services LLC raised its position in Jacobs Solutions by 1.5% during the first quarter. Ameritas Advisory Services LLC now owns 8,034 shares of the company's stock worth $989,000 after acquiring an additional 117 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in Jacobs Solutions by 0.9% during the fourth quarter. Cetera Investment Advisers now owns 15,502 shares of the company's stock worth $2,071,000 after acquiring an additional 134 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

Analysts Set New Price Targets

J has been the topic of several research reports. UBS Group upped their price objective on shares of Jacobs Solutions from $152.00 to $166.00 and gave the company a "buy" rating in a report on Wednesday. Citigroup upped their price target on shares of Jacobs Solutions from $147.47 to $166.00 and gave the company a "buy" rating in a research note on Monday, July 28th. KeyCorp upped their price target on shares of Jacobs Solutions from $155.00 to $157.00 and gave the company an "overweight" rating in a research note on Wednesday. Royal Bank Of Canada upped their price target on shares of Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Truist Financial upped their price target on shares of Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $155.25.

Jacobs Solutions Stock Performance

Shares of Jacobs Solutions stock traded up $1.70 during trading on Wednesday, hitting $146.91. 1,083,414 shares of the company's stock traded hands, compared to its average volume of 745,534. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.39 and a quick ratio of 1.50. Jacobs Solutions Inc. has a 1 year low of $106.23 and a 1 year high of $150.54. The stock has a market capitalization of $17.65 billion, a P/E ratio of 36.64, a PEG ratio of 2.04 and a beta of 0.79. The business has a 50-day simple moving average of $132.90 and a 200-day simple moving average of $128.17.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.56 by $0.06. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.09 billion. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%. The business's revenue for the quarter was down 28.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.96 earnings per share. As a group, analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 22nd. Jacobs Solutions's dividend payout ratio is currently 35.26%.

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.