NorthCrest Asset Manangement LLC Makes New $4.56 Million Investment in Jacobs Solutions Inc. (NYSE:J)

NorthCrest Asset Manangement LLC purchased a new stake in Jacobs Solutions Inc. (NYSE:J - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 34,087 shares of the company's stock, valued at approximately $4,555,000.

Several other institutional investors have also added to or reduced their stakes in J. Colonial Trust Co SC boosted its stake in 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 purchasing an additional 205 shares during the period. Avalon Trust Co bought a new stake in shares of Jacobs Solutions during the 4th quarter valued at $33,000. Larson Financial Group LLC lifted its position in shares of Jacobs Solutions by 71.9% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company's stock valued at $37,000 after acquiring an additional 115 shares during the period. Assetmark Inc. lifted its position in shares of Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company's stock valued at $45,000 after acquiring an additional 100 shares during the period. Finally, Optiver Holding B.V. lifted its position in shares of Jacobs Solutions by 113.8% during the 4th quarter. Optiver Holding B.V. now owns 357 shares of the company's stock valued at $48,000 after acquiring an additional 190 shares during the period. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Price Performance

J traded up $0.38 on Friday, reaching $126.40. The stock had a trading volume of 2,174,853 shares, compared to its average volume of 807,514. Jacobs Solutions Inc. has a fifty-two week low of $106.23 and a fifty-two week high of $156.31. The firm has a 50-day moving average of $121.82 and a 200-day moving average of $129.26. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $15.19 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.02. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the company posted $1.91 EPS. The business's revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Jacobs Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 23rd will be given a dividend of $0.32 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.28 annualized dividend and a dividend yield of 1.01%. Jacobs Solutions's payout ratio is 35.26%.

Analyst Ratings Changes

J has been the subject of a number of recent analyst reports. Citigroup cut their target price 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 boosted their price target on Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a report on Monday, May 12th. UBS Group lowered their price target on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating for the company in a report on Friday, May 9th. Royal Bank of Canada boosted their price target on Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Robert W. Baird lowered their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.