Bank of America Corp DE Boosts Position in Jacobs Solutions Inc. (NYSE:J)

Bank of America Corp DE increased its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,782,488 shares of the company's stock after buying an additional 70,470 shares during the period. Bank of America Corp DE owned 1.45% of Jacobs Solutions worth $238,176,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in J. Kovitz Investment Group Partners LLC boosted its stake in Jacobs Solutions by 345.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company's stock worth $619,676,000 after buying an additional 3,597,564 shares during the period. Geode Capital Management LLC grew its stake in Jacobs Solutions by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 3,155,839 shares of the company's stock worth $420,626,000 after buying an additional 10,174 shares during the last quarter. Ninety One UK Ltd grew its position in Jacobs Solutions by 29.2% during the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock worth $265,649,000 after purchasing an additional 449,161 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Jacobs Solutions by 9.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,809,207 shares of the company's stock valued at $241,746,000 after purchasing an additional 157,086 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Jacobs Solutions by 6.2% in the fourth quarter. Northern Trust Corp now owns 1,128,088 shares of the company's stock worth $150,735,000 after buying an additional 65,980 shares during the last quarter. 85.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup dropped their price target on Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Robert W. Baird decreased their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. UBS Group cut their price target on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a research report on Friday. Royal Bank of Canada upped their target price on Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Truist Financial dropped their target price on Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $149.29.

Jacobs Solutions Price Performance

J stock traded down $0.17 during mid-day trading on Friday, reaching $122.78. 955,140 shares of the company's stock were exchanged, compared to its average volume of 796,964. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. Jacobs Solutions Inc. has a 12-month low of $106.23 and a 12-month high of $156.31. The stock's 50 day moving average is $120.47 and its 200 day moving average is $130.74. The company has a market cap of $15.05 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.02. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the company posted $1.91 EPS. Jacobs Solutions's quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders 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 dividend yield of 1.04%. 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 buyback program on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors 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.