Millennium Management LLC Increases Holdings in Jacobs Solutions Inc. (NYSE:J)

Millennium Management LLC grew its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 120.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 470,256 shares of the company's stock after purchasing an additional 257,257 shares during the quarter. Millennium Management LLC owned approximately 0.38% of Jacobs Solutions worth $62,836,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Jacobs Solutions by 8.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 903,698 shares of the company's stock valued at $120,752,000 after acquiring an additional 71,248 shares during the last quarter. Lazard Asset Management LLC grew its stake in Jacobs Solutions by 933.6% in the 4th quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company's stock valued at $281,808,000 after purchasing an additional 1,904,988 shares during the period. Humankind Investments LLC increased its position in shares of Jacobs Solutions by 10.0% during the 4th quarter. Humankind Investments LLC now owns 3,332 shares of the company's stock valued at $445,000 after purchasing an additional 303 shares during the last quarter. Gotham Asset Management LLC raised its stake in shares of Jacobs Solutions by 12.7% during the 4th quarter. Gotham Asset Management LLC now owns 135,644 shares of the company's stock worth $18,125,000 after purchasing an additional 15,249 shares during the period. Finally, Focus Partners Wealth boosted its holdings in shares of Jacobs Solutions by 5.7% in the 4th quarter. Focus Partners Wealth now owns 294,602 shares of the company's stock worth $39,365,000 after buying an additional 15,900 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Price Performance

Shares of Jacobs Solutions stock traded down $0.39 during trading on Monday, hitting $128.78. 627,892 shares of the stock traded hands, compared to its average volume of 803,902. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.84 and a beta of 0.77. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a 52 week low of $106.23 and a 52 week high of $156.31. The firm's fifty day moving average is $120.88 and its 200-day moving average is $130.26.

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

Jacobs Solutions declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Jacobs Solutions Announces Dividend

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

Analyst Ratings Changes

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