Jacobs Solutions Inc. (NYSE:J) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 12.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,776 shares of the company's stock after purchasing an additional 2,222 shares during the period. DAVENPORT & Co LLC's holdings in Jacobs Solutions were worth $2,391,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC lifted its position in Jacobs Solutions by 345.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company's stock worth $619,676,000 after purchasing an additional 3,597,564 shares during the period. Geode Capital Management LLC lifted its position in shares of Jacobs Solutions by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 3,155,839 shares of the company's stock valued at $420,626,000 after acquiring an additional 10,174 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Jacobs Solutions by 933.6% during the 4th quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company's stock valued at $281,808,000 after acquiring an additional 1,904,988 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Jacobs Solutions by 9.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,809,207 shares of the company's stock valued at $241,746,000 after acquiring an additional 157,086 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Jacobs Solutions by 4.1% during the 4th quarter. Bank of America Corp DE now owns 1,782,488 shares of the company's stock valued at $238,176,000 after acquiring an additional 70,470 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Price Performance

Shares of NYSE:J opened at $132.61 on Friday. The company's fifty day moving average is $127.03 and its two-hundred day moving average is $127.56. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.68. Jacobs Solutions Inc. has a 12-month low of $106.23 and a 12-month high of $156.31. The company has a market cap of $15.93 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 1.87 and a beta of 0.77.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. Jacobs Solutions had a net margin of 3.53% and a return on equity of 15.67%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the business earned $1.91 EPS. The company's revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Friday, May 23rd. Jacobs Solutions's dividend payout ratio (DPR) is presently 35.26%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on J shares. 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 report on Monday, May 12th. Royal Bank Of Canada increased their price objective on Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. UBS Group cut their price objective on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Citigroup cut their price objective 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $150.86.

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.

Want to see what other hedge funds are holding J? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jacobs Solutions Inc. (NYSE:J - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.