Toronto Dominion Bank Boosts Stock Position in Jacobs Solutions Inc. (NYSE:J)

Toronto Dominion Bank increased its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,478 shares of the company's stock after purchasing an additional 3,757 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of Jacobs Solutions worth $8,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Colonial Trust Co SC lifted its position in Jacobs Solutions by 10,250.0% during the fourth quarter. Colonial Trust Co SC now owns 207 shares of the company's stock worth $28,000 after buying an additional 205 shares during the period. Avalon Trust Co acquired a new position in shares of Jacobs Solutions during the 4th quarter valued at about $33,000. Larson Financial Group LLC lifted its holdings 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 worth $37,000 after acquiring an additional 115 shares during the period. Assetmark Inc. boosted its position in shares of Jacobs Solutions by 42.7% in the fourth quarter. Assetmark Inc. now owns 334 shares of the company's stock worth $45,000 after acquiring an additional 100 shares during the last quarter. Finally, Optiver Holding B.V. boosted its position in shares of Jacobs Solutions by 113.8% in the fourth quarter. Optiver Holding B.V. now owns 357 shares of the company's stock worth $48,000 after acquiring an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company's stock.

Jacobs Solutions Stock Down 0.8%

Shares of J traded down $0.98 during midday trading on Friday, reaching $125.83. 510,846 shares of the company were exchanged, compared to its average volume of 802,213. Jacobs Solutions Inc. has a 1-year low of $106.23 and a 1-year high of $156.31. The stock has a 50-day moving average price of $121.36 and a 200-day moving average price of $130.06. 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 cap of $15.12 billion, a price-to-earnings ratio of 25.94, a P/E/G 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, topping the consensus estimate 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 period in the previous year, the company posted $1.91 EPS. Jacobs Solutions's revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 23rd will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, May 23rd. Jacobs Solutions's payout ratio is 35.26%.

Jacobs Solutions declared that its board has authorized a share repurchase plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to purchase up to 9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on J. Citigroup cut their price target on shares of Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. UBS Group cut their target price on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Truist Financial lifted their target price on Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a report on Monday, May 12th. Robert W. Baird dropped their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada raised their price objective on Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Jacobs Solutions currently has an average rating of "Moderate Buy" and a consensus price target 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.