OLD National Bancorp IN Acquires 27,823 Shares of Jacobs Solutions Inc. $J

Key Points

• OLD National Bancorp IN significantly increased its stake in Jacobs Solutions Inc. by 1,399.5%, acquiring 27,823 more shares during the second quarter, bringing its total holdings to 29,811 shares worth approximately $3.9 million.
• Jacobs Solutions has a current market cap of $18.51 billion and reported a net margin of 4.16% with quarterly earnings of $1.62 per share, beating analysts’ expectations.
• Recent research ratings for Jacobs Solutions show a consensus of Moderate Buy, with target prices set between $154 and $166 by various analysts.

OLD National Bancorp IN raised its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 1,399.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,811 shares of the company's stock after buying an additional 27,823 shares during the quarter. OLD National Bancorp IN's holdings in Jacobs Solutions were worth $3,919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in J. Merit Financial Group LLC boosted its holdings in Jacobs Solutions by 47.0% in the first quarter. Merit Financial Group LLC now owns 4,048 shares of the company's stock valued at $489,000 after acquiring an additional 1,295 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Jacobs Solutions by 54.2% during the 1st quarter. Park Avenue Securities LLC now owns 8,774 shares of the company's stock valued at $1,061,000 after purchasing an additional 3,083 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in Jacobs Solutions by 34.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 110,912 shares of the company's stock valued at $13,408,000 after acquiring an additional 28,299 shares during the period. Toth Financial Advisory Corp lifted its position in Jacobs Solutions by 7.3% during the 1st quarter. Toth Financial Advisory Corp now owns 53,606 shares of the company's stock valued at $6,480,000 after acquiring an additional 3,642 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Jacobs Solutions by 62.8% during the first quarter. Farther Finance Advisors LLC now owns 4,199 shares of the company's stock worth $512,000 after acquiring an additional 1,619 shares in the last quarter. Institutional investors own 85.65% of the company's stock.

Jacobs Solutions Stock Up 0.5%

NYSE J opened at $154.81 on Monday. Jacobs Solutions Inc. has a 12 month low of $106.23 and a 12 month high of $155.90. The stock's 50 day moving average is $146.98 and its 200 day moving average is $133.42. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.65. The stock has a market cap of $18.51 billion, a PE ratio of 38.61, a P/E/G ratio of 1.82 and a beta of 0.81.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. The company had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.09 billion. Jacobs Solutions had a net margin of 4.16% and a return on equity of 17.13%. Jacobs Solutions's quarterly revenue was down 28.4% on a year-over-year basis. During the same period last year, the company posted $1.96 earnings per share. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. Research analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.8%. Jacobs Solutions's dividend payout ratio is presently 31.92%.

Wall Street Analyst Weigh In

J has been the topic of a number of recent research reports. UBS Group increased their target price on Jacobs Solutions from $152.00 to $166.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen raised shares of Jacobs Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Citigroup lifted their target price on shares of Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a report on Monday, July 28th. KeyCorp increased their price target on shares of Jacobs Solutions from $155.00 to $157.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Jacobs Solutions in a report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Jacobs Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $154.57.

About Jacobs Solutions

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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