Cary Street Partners Financial LLC Acquires Shares of 23,486 Jacobs Solutions Inc. (NYSE:J)

Key Points

• Cary Street Partners Financial LLC acquired 23,486 shares of Jacobs Solutions Inc., valued at approximately $2.84 million, during the first quarter of the year.
• Several analysts have raised their price targets for Jacobs Solutions, with Citigroup increasing its target from $147.47 to $166.00, reflecting a bullish outlook on the stock.
• Jacobs Solutions reported an EPS of $1.62 in its most recent earnings, exceeding estimates, despite a 28.4% year-over-year revenue decline.

Cary Street Partners Financial LLC bought a new position in Jacobs Solutions Inc. (NYSE:J - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 23,486 shares of the company's stock, valued at approximately $2,839,000.

A number of other large investors have also bought and sold shares of the company. Colonial Trust Co SC raised its holdings in Jacobs Solutions by 10,250.0% during the 4th quarter. Colonial Trust Co SC now owns 207 shares of the company's stock valued at $28,000 after acquiring an additional 205 shares during the period. Rossby Financial LCC purchased a new position in shares of Jacobs Solutions in the first quarter valued at $33,000. Optiver Holding B.V. raised its stake in shares of Jacobs Solutions by 113.8% during the 4th quarter. Optiver Holding B.V. now owns 357 shares of the company's stock valued at $48,000 after purchasing an additional 190 shares during the period. Whipplewood Advisors LLC lifted its holdings in Jacobs Solutions by 1,685.7% during the 1st quarter. Whipplewood Advisors LLC now owns 375 shares of the company's stock worth $45,000 after purchasing an additional 354 shares in the last quarter. Finally, Transce3nd LLC bought a new position in Jacobs Solutions in the 4th quarter worth about $53,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. KeyCorp upped their price target on Jacobs Solutions from $155.00 to $157.00 and gave the company an "overweight" rating in a research report on Wednesday. Citigroup upped their target price on shares of Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Truist Financial increased their target price on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research note on Monday, May 12th. UBS Group boosted their price target on shares of Jacobs Solutions from $152.00 to $166.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Royal Bank Of Canada upped their price target on shares of Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $155.25.

Jacobs Solutions Stock Performance

NYSE J opened at $146.91 on Thursday. Jacobs Solutions Inc. has a 52-week low of $106.23 and a 52-week high of $150.54. The company has a fifty day moving average of $133.30 and a 200-day moving average of $128.30. The company has a market capitalization of $17.65 billion, a P/E ratio of 36.64, a P/E/G ratio of 2.04 and a beta of 0.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.39.

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

Jacobs Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 22nd. Jacobs Solutions's payout ratio is presently 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.

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