Everstar Asset Management LLC Makes New Investment in Jacobs Solutions Inc. $J

Key Points

• Everstar Asset Management LLC has invested $9.47 million in Jacobs Solutions Inc., acquiring 78,325 shares, which constitutes approximately 1.8% of its investment portfolio.
• Jacobs Solutions reported earnings of $1.62 per share for the recent quarter, exceeding estimates, although its revenue fell by 28.4% year-over-year.
• The company announced a quarterly dividend of $0.32 per share, with a dividend yield of 0.9%, and a payout ratio of 31.92%.

Everstar Asset Management LLC purchased a new position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 78,325 shares of the company's stock, valued at approximately $9,469,000. Jacobs Solutions comprises approximately 1.8% of Everstar Asset Management LLC's investment portfolio, making the stock its 12th largest holding. Everstar Asset Management LLC owned about 0.07% of Jacobs Solutions at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in J. Benjamin Edwards Inc. lifted its stake in Jacobs Solutions by 5.3% during 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 during the last quarter. Baird Financial Group Inc. lifted its stake in Jacobs Solutions by 7.9% during the fourth quarter. Baird Financial Group Inc. now owns 15,051 shares of the company's stock worth $2,011,000 after purchasing an additional 1,107 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Jacobs Solutions by 9.3% in the fourth quarter. Captrust Financial Advisors now owns 26,895 shares of the company's stock worth $3,594,000 after buying an additional 2,294 shares during the period. Brevan Howard Capital Management LP purchased a new position in shares of Jacobs Solutions in the fourth quarter worth about $397,000. Finally, Cetera Investment Advisers increased its holdings in shares of Jacobs Solutions by 0.9% in the fourth quarter. Cetera Investment Advisers now owns 15,502 shares of the company's stock worth $2,071,000 after buying an additional 134 shares during the period. Institutional investors own 85.65% of the company's stock.

Jacobs Solutions Trading Down 1.4%

NYSE:J traded down $2.02 during mid-day trading on Friday, reaching $146.72. 736,236 shares of the company's stock traded hands, compared to its average volume of 601,707. Jacobs Solutions Inc. has a 12-month low of $106.23 and a 12-month high of $152.40. The firm has a market capitalization of $17.54 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 2.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.39 and a quick ratio of 1.39. The company has a 50 day moving average price of $143.41 and a 200-day moving average price of $130.67.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%.The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the business earned $1.96 EPS. Jacobs Solutions's revenue was down 28.4% compared to the same quarter last year. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. On average, sell-side analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 22nd. Jacobs Solutions's payout ratio is currently 31.92%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on J. KeyCorp lifted their price objective on Jacobs Solutions from $155.00 to $157.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. UBS Group lifted their price objective on Jacobs Solutions from $152.00 to $166.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Citigroup lifted their price objective on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Wall Street Zen upgraded Jacobs Solutions from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Jacobs Solutions currently has an average rating of "Moderate Buy" and an average price target of $155.25.

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.