Greenwood Capital Associates LLC Raises Stake in Jacobs Solutions Inc. (NYSE:J)

Greenwood Capital Associates LLC raised its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 31.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,437 shares of the company's stock after acquiring an additional 8,885 shares during the quarter. Greenwood Capital Associates LLC's holdings in Jacobs Solutions were worth $4,526,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. McKinley Carter Wealth Services Inc. raised its stake in shares of Jacobs Solutions by 2.6% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 58,559 shares of the company's stock worth $7,079,000 after buying an additional 1,471 shares during the period. CX Institutional lifted its holdings in Jacobs Solutions by 11.3% during the first quarter. CX Institutional now owns 7,861 shares of the company's stock valued at $950,000 after purchasing an additional 799 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Jacobs Solutions by 1,098.2% in the first quarter. SG Americas Securities LLC now owns 226,816 shares of the company's stock valued at $27,420,000 after purchasing an additional 207,886 shares during the period. GAMMA Investing LLC grew its position in shares of Jacobs Solutions by 90.2% in the first quarter. GAMMA Investing LLC now owns 2,282 shares of the company's stock valued at $276,000 after purchasing an additional 1,082 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Jacobs Solutions by 104.9% during the first quarter. Harbor Capital Advisors Inc. now owns 2,827 shares of the company's stock worth $342,000 after purchasing an additional 1,447 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group lowered their price objective on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Citigroup dropped their price target on Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Truist Financial increased their price objective on Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Finally, Royal Bank of Canada lifted their target price on shares of Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $150.86.

Jacobs Solutions Trading Down 1.6%

Jacobs Solutions stock traded down $2.00 during mid-day trading on Friday, hitting $125.61. The company's stock had a trading volume of 252,577 shares, compared to its average volume of 803,081. The firm has a market capitalization of $15.09 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a 1 year low of $106.23 and a 1 year high of $156.31. The stock's fifty day moving average is $123.03 and its two-hundred day moving average is $128.50.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.02. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $3 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. Jacobs Solutions's revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.91 earnings per share. On average, analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.28 dividend on an annualized basis and a yield of 1.02%. Jacobs Solutions's payout ratio is currently 35.26%.

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.