Jacobs Solutions Inc. (NYSE:J) Shares Acquired by Arrowpoint Investment Partners Singapore Pte. Ltd.

Key Points

• Arrowpoint Investment Partners Singapore Pte. Ltd. significantly increased its holdings in Jacobs Solutions Inc. by 363%, now owning 2,500 shares valued at approximately $302,000.
• Jacobs Solutions announced a quarterly dividend of $0.32 per share, with an annualized yield of 0.9%, set to be paid on September 19th.
• Analysts have raised Jacobs Solutions' price targets, with a consensus rating of "Moderate Buy" and an average target price of $155.25.

Arrowpoint Investment Partners Singapore Pte. Ltd. grew its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 363.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500 shares of the company's stock after purchasing an additional 1,960 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd.'s holdings in Jacobs Solutions were worth $302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Jacobs Solutions by 21.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,894 shares of the company's stock valued at $1,684,000 after purchasing an additional 2,457 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Jacobs Solutions by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 127,215 shares of the company's stock valued at $15,379,000 after purchasing an additional 3,451 shares in the last quarter. Gibraltar Capital Management Inc. raised its position in shares of Jacobs Solutions by 13.9% in the 1st quarter. Gibraltar Capital Management Inc. now owns 56,003 shares of the company's stock valued at $6,770,000 after purchasing an additional 6,824 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Jacobs Solutions by 12.7% in the 1st quarter. DAVENPORT & Co LLC now owns 19,776 shares of the company's stock valued at $2,391,000 after purchasing an additional 2,222 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Jacobs Solutions by 5.5% in the 4th quarter. Evergreen Capital Management LLC now owns 69,123 shares of the company's stock valued at $9,236,000 after purchasing an additional 3,609 shares in the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on J shares. Truist Financial boosted their price target on Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a report on Monday, May 12th. KeyCorp boosted their price target on Jacobs Solutions from $155.00 to $157.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Royal Bank Of Canada boosted their price target on Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. UBS Group boosted their price target on Jacobs Solutions from $152.00 to $166.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Citigroup boosted their price target on Jacobs Solutions from $147.47 to $166.00 and gave the company a "buy" rating in a report on Monday, July 28th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $155.25.

Jacobs Solutions Trading Up 1.3%

Shares of NYSE J opened at $149.78 on Wednesday. Jacobs Solutions Inc. has a 12 month low of $106.23 and a 12 month high of $150.54. The company has a market cap of $17.90 billion, a price-to-earnings ratio of 37.35, a P/E/G ratio of 2.01 and a beta of 0.79. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $135.11 and a 200-day simple moving average of $128.42.

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

Jacobs Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be paid a $0.32 dividend. 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 31.92%.

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.

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