HB Wealth Management LLC Buys 2,875 Shares of Jacobs Solutions Inc. (NYSE:J)

Key Points

• HB Wealth Management LLC increased its stake in Jacobs Solutions Inc. by 104.1%, acquiring a total of 5,638 shares valued at approximately $682,000.
• Several other institutional investors, including Colonial Trust Co SC and Rossby Financial, also significantly boosted their holdings, bringing total institutional ownership to 85.65% of the company's stock.
• Jacobs Solutions reported $1.43 EPS for the last quarter, exceeding analyst expectations, and had a revenue of $2.91 billion, marking a 2.2% increase year-over-year.

HB Wealth Management LLC raised its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 104.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,638 shares of the company's stock after purchasing an additional 2,875 shares during the period. HB Wealth Management LLC's holdings in Jacobs Solutions were worth $682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Colonial Trust Co SC boosted its holdings in shares of Jacobs Solutions by 10,250.0% in the 4th quarter. Colonial Trust Co SC now owns 207 shares of the company's stock valued at $28,000 after buying an additional 205 shares during the period. Rossby Financial LCC acquired a new position in shares of Jacobs Solutions in the 1st quarter valued at about $33,000. Optiver Holding B.V. boosted its holdings in shares of Jacobs Solutions by 113.8% in the 4th quarter. Optiver Holding B.V. now owns 357 shares of the company's stock valued at $48,000 after buying an additional 190 shares during the period. Whipplewood Advisors LLC boosted its holdings in shares of Jacobs Solutions by 1,685.7% in the 1st quarter. Whipplewood Advisors LLC now owns 375 shares of the company's stock valued at $45,000 after buying an additional 354 shares during the period. Finally, Transce3nd LLC acquired a new position in shares of Jacobs Solutions in the 4th quarter valued at about $53,000. Institutional investors own 85.65% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on J shares. Truist Financial boosted their price target on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Royal Bank Of Canada boosted their target price 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. KeyCorp upgraded shares of Jacobs Solutions from a "sector weight" rating to an "overweight" rating and set a $155.00 target price on the stock in a report on Wednesday, July 16th. Citigroup boosted 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. Finally, UBS Group dropped their target price on shares of Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.25.

Jacobs Solutions Price Performance

Shares of Jacobs Solutions stock traded down $2.63 during mid-day trading on Friday, reaching $139.24. 1,043,912 shares of the stock were exchanged, compared to its average volume of 616,574. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 38.36, a price-to-earnings-growth ratio of 2.00 and a beta of 0.79. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.68. The firm has a 50-day simple moving average of $132.28 and a 200 day simple moving average of $128.17. Jacobs Solutions Inc. has a fifty-two week low of $106.23 and a fifty-two week high of $150.54.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. The firm had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $3 billion. Jacobs Solutions had a net margin of 3.53% and a return on equity of 15.67%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.91 EPS. On average, sell-side analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

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