Oak Thistle LLC Invests $1.91 Million in Jacobs Solutions Inc. (NYSE:J)

Oak Thistle LLC purchased a new stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,769 shares of the company's stock, valued at approximately $1,906,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI increased its stake in Jacobs Solutions by 956.8% during the fourth quarter. National Bank of Canada FI now owns 264,824 shares of the company's stock valued at $35,386,000 after acquiring an additional 239,764 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake 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 during the period. Wealth Enhancement Advisory Services LLC grew its stake 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 during the period. Gibraltar Capital Management Inc. grew its stake 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 during the period. Finally, DAVENPORT & Co LLC grew its stake 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 during the period. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Price Performance

NYSE J traded up $1.37 during trading hours on Friday, reaching $143.50. 358,288 shares of the company's stock were exchanged, compared to its average volume of 593,653. The stock has a market cap of $17.24 billion, a PE ratio of 39.53, a price-to-earnings-growth ratio of 2.00 and a beta of 0.77. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $150.54. The firm has a fifty day moving average of $130.82 and a 200-day moving average of $127.89. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.68.

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, topping analysts' consensus estimates of $1.41 by $0.02. Jacobs Solutions had a return on equity of 15.67% and a net margin of 3.53%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the prior year, the company earned $1.91 EPS. Jacobs Solutions's revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.89%. The ex-dividend date was Friday, May 23rd. Jacobs Solutions's dividend payout ratio is 35.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial upped their price objective on Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Citigroup lowered their price objective on Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Royal Bank Of Canada upped their price objective on Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. UBS Group lowered their price objective on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, KeyCorp upgraded Jacobs Solutions from a "sector weight" rating to an "overweight" rating and set a $155.00 price objective on the stock in a research note on Wednesday, July 16th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $151.38.

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.