NewEdge Advisors LLC Acquires 2,769 Shares of Jacobs Solutions Inc. (NYSE:J)

NewEdge Advisors LLC grew its stake in Jacobs Solutions Inc. (NYSE:J - Free Report) by 55.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,775 shares of the company's stock after buying an additional 2,769 shares during the period. NewEdge Advisors LLC's holdings in Jacobs Solutions were worth $1,039,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of J. Barclays PLC lifted its holdings in shares of Jacobs Solutions by 31.7% in the 3rd quarter. Barclays PLC now owns 312,700 shares of the company's stock worth $40,933,000 after acquiring an additional 75,318 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of Jacobs Solutions by 151.2% in the 3rd quarter. Virtu Financial LLC now owns 4,675 shares of the company's stock worth $612,000 after acquiring an additional 2,814 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Jacobs Solutions by 3.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 20,851 shares of the company's stock worth $2,729,000 after acquiring an additional 630 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Jacobs Solutions in the 3rd quarter worth approximately $3,205,000. Finally, 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. Hedge funds and other institutional investors own 85.65% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on J shares. Citigroup lowered their price objective on shares of Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating for the company in a report on Friday, April 25th. Robert W. Baird lowered their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Finally, Truist Financial lowered their price target on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.86.

Jacobs Solutions Trading Down 0.1 %

NYSE J traded down $0.07 during trading on Wednesday, hitting $123.84. The company had a trading volume of 1,077,470 shares, compared to its average volume of 785,941. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $156.31. The company has a market cap of $15.18 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73. The company's fifty day moving average is $120.92 and its 200-day moving average is $131.78.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business earned $1.45 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to buy up to 9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Jacobs Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.03%. Jacobs Solutions's dividend payout ratio (DPR) is presently 26.39%.

About Jacobs Solutions

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.