Petrus Trust Company LTA Takes $583,000 Position in Jacobs Solutions Inc. $J

Key Points

• Petrus Trust Company LTA acquired a new stake in Jacobs Solutions Inc. worth approximately $583,000 by purchasing 4,825 shares during the first quarter of 2023.
• Various hedge funds have significantly increased their holdings in Jacobs Solutions, with Alliancebernstein L.P. growing its position by 73.6%, now owning 265,705 shares valued at about $32.1 million.
• Jacobs Solutions reported a earnings per share of $1.62 for the most recent quarter, surpassing analysts' expectations, and declared a quarterly dividend of $0.32 per share.

Petrus Trust Company LTA purchased a new stake in Jacobs Solutions Inc. (NYSE:J - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,825 shares of the company's stock, valued at approximately $583,000.

Several other hedge funds also recently made changes to their positions in J. Needham Investment Management LLC grew its position in Jacobs Solutions by 65.4% during the first quarter. Needham Investment Management LLC now owns 21,500 shares of the company's stock worth $2,599,000 after buying an additional 8,500 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in Jacobs Solutions by 1.0% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 15,209 shares of the company's stock worth $1,839,000 after buying an additional 147 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Jacobs Solutions by 10.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 90,366 shares of the company's stock worth $10,924,000 after buying an additional 8,668 shares in the last quarter. Gotham Asset Management LLC grew its position in Jacobs Solutions by 30.5% during the first quarter. Gotham Asset Management LLC now owns 176,970 shares of the company's stock worth $21,394,000 after buying an additional 41,326 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Jacobs Solutions by 73.6% during the first quarter. Alliancebernstein L.P. now owns 265,705 shares of the company's stock worth $32,121,000 after buying an additional 112,642 shares in the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on J. UBS Group boosted their target price on Jacobs Solutions from $152.00 to $166.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Truist Financial boosted their target price on Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Citigroup lifted their price target on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Wall Street Zen raised Jacobs Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, KeyCorp lifted their price target on Jacobs Solutions from $155.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Jacobs Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $155.25.

Jacobs Solutions Trading Up 1.1%

NYSE J opened at $145.39 on Friday. Jacobs Solutions Inc. has a 1-year low of $106.23 and a 1-year high of $152.40. 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 50-day moving average of $142.07 and a 200-day moving average of $130.06. The firm has a market cap of $17.38 billion, a PE ratio of 36.26, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79.

Jacobs Solutions (NYSE:J - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%.The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the company posted $1.96 EPS. Jacobs Solutions's revenue for the quarter was down 28.4% on a year-over-year basis. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. As a group, sell-side analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS 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 given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. Jacobs Solutions's dividend payout ratio is presently 31.92%.

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.

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.