Jacobs Solutions Inc. (NYSE:J) Shares Purchased by First Manhattan CO. LLC.

First Manhattan CO. LLC. grew its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 125.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,688 shares of the company's stock after buying an additional 9,851 shares during the quarter. First Manhattan CO. LLC.'s holdings in Jacobs Solutions were worth $2,363,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of J. Fullcircle Wealth LLC purchased a new stake in Jacobs Solutions during the 4th quarter valued at $204,000. Deutsche Bank AG raised its stake in Jacobs Solutions by 148.2% during the 4th quarter. Deutsche Bank AG now owns 664,564 shares of the company's stock valued at $88,799,000 after buying an additional 396,759 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Jacobs Solutions by 21.1% during the 4th quarter. EP Wealth Advisors LLC now owns 3,428 shares of the company's stock valued at $458,000 after purchasing an additional 597 shares during the period. Colonial Trust Co SC grew 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 valued at $28,000 after buying an additional 205 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Jacobs Solutions by 0.9% in the 4th quarter. Cetera Investment Advisers now owns 15,502 shares of the company's stock worth $2,071,000 after purchasing an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on J shares. Royal Bank of Canada increased their price objective on shares of Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Truist Financial boosted their target price on shares of Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research note on Monday. Citigroup cut their target price on shares of Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. UBS Group lowered their price target on shares of Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Robert W. Baird cut their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $150.86.

Jacobs Solutions Stock Up 2.0%

Shares of J traded up $2.52 during midday trading on Thursday, hitting $128.74. 862,012 shares of the company's stock traded hands, compared to its average volume of 914,827. 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 stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 1 year low of $106.23 and a 1 year high of $150.54. The firm's fifty day moving average is $120.64 and its 200-day moving average is $130.59.

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 company had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $3 billion. During the same period last year, the business posted $1.91 earnings per share. The firm's revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

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

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. Jacobs Solutions's payout ratio is 35.26%.

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.