Kirtland Hills Capital Management LLC Purchases New Shares in Jacobs Solutions Inc. (NYSE:J)

Key Points

• Kirtland Hills Capital Management LLC acquired 24,500 shares of Jacobs Solutions Inc., valued at approximately $2.87 million, making it the firm's 12th largest holding.
• Jacobs Solutions experienced a revenue of $2.91 billion in its latest quarterly report, but fell short of the analyst expectations of $3 billion.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Jacobs Solutions, with an average target price of $153.25.

Kirtland Hills Capital Management LLC purchased a new stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,500 shares of the company's stock, valued at approximately $2,872,000. Jacobs Solutions accounts for about 1.7% of Kirtland Hills Capital Management LLC's portfolio, making the stock its 12th biggest holding.

Several other hedge funds have also added to or reduced their stakes in J. Kovitz Investment Group Partners LLC increased its holdings 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 valued at $619,676,000 after purchasing an additional 3,597,564 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Jacobs Solutions by 0.3% in 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. Ninety One UK Ltd raised its position in shares of Jacobs Solutions by 9.5% in the 1st quarter. Ninety One UK Ltd now owns 2,176,944 shares of the company's stock valued at $263,171,000 after acquiring an additional 188,852 shares during the period. Lazard Asset Management LLC boosted its stake in Jacobs Solutions by 933.6% during the 4th quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company's stock worth $281,808,000 after acquiring an additional 1,904,988 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Jacobs Solutions by 9.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,809,207 shares of the company's stock valued at $241,746,000 after purchasing an additional 157,086 shares during the period. Institutional investors own 85.65% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on J shares. Truist Financial increased their target price on Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research note on Monday, May 12th. KeyCorp upgraded shares of Jacobs Solutions from a "sector weight" rating to an "overweight" rating and set a $155.00 price target for the company in a report on Wednesday, July 16th. UBS Group dropped their price objective 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. Royal Bank Of Canada upped 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. Finally, Citigroup increased their target price on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a report on Monday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $153.25.

Jacobs Solutions Trading Down 1.6%

Jacobs Solutions stock traded down $2.27 during trading hours on Friday, reaching $139.60. 639,495 shares of the company's stock were exchanged, compared to its average volume of 824,763. Jacobs Solutions Inc. has a twelve month low of $106.23 and a twelve month high of $150.54. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.68. The firm's 50 day simple moving average is $132.01 and its 200 day simple moving average is $128.15. The firm has a market capitalization of $16.77 billion, a PE ratio of 38.46, a PEG ratio of 1.99 and a beta of 0.77.

Jacobs Solutions (NYSE:J - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $3 billion. Jacobs Solutions had a net margin of 3.53% and a return on equity of 15.67%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.91 earnings per share. Research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. Jacobs Solutions's dividend payout ratio (DPR) is presently 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.