Northern Trust Corp Grows Holdings in Jacobs Solutions Inc. (NYSE:J)

Northern Trust Corp raised its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,128,088 shares of the company's stock after purchasing an additional 65,980 shares during the quarter. Northern Trust Corp owned about 0.92% of Jacobs Solutions worth $150,735,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Barclays PLC raised its holdings in Jacobs Solutions by 31.7% in the 3rd quarter. Barclays PLC now owns 312,700 shares of the company's stock valued at $40,933,000 after buying an additional 75,318 shares during the period. Virtu Financial LLC increased its position in shares of Jacobs Solutions by 151.2% during the third quarter. Virtu Financial LLC now owns 4,675 shares of the company's stock valued at $612,000 after acquiring an additional 2,814 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Jacobs Solutions in the 3rd quarter valued at approximately $3,205,000. Tidal Investments LLC lifted its holdings in shares of Jacobs Solutions by 3.5% in the 3rd quarter. Tidal Investments LLC now owns 24,440 shares of the company's stock worth $3,199,000 after acquiring an additional 829 shares during the last quarter. Finally, Synovus Financial Corp boosted its position in shares of Jacobs Solutions by 7.3% during the 3rd quarter. Synovus Financial Corp now owns 5,117 shares of the company's stock worth $670,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 85.65% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on J. Citigroup cut their target price on Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Robert W. Baird cut their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Finally, Truist Financial decreased their target price on Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Jacobs Solutions presently has a consensus rating of "Moderate Buy" and an average target price of $150.86.

Jacobs Solutions Price Performance

NYSE:J traded down $7.10 during mid-day trading on Tuesday, hitting $119.54. 1,465,198 shares of the company's stock traded hands, compared to its average volume of 799,469. Jacobs Solutions Inc. has a 1 year low of $106.23 and a 1 year high of $156.31. The company has a market cap of $14.65 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. The firm's 50 day simple moving average is $120.84 and its 200 day simple moving average is $131.32.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 EPS for the quarter, meeting analysts' consensus estimates of $1.43. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. During the same quarter last year, the company earned $1.91 EPS. The company's quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 23rd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, May 23rd. Jacobs Solutions's payout ratio is currently 26.39%.

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

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.