Price T Rowe Associates Inc. MD Purchases 2,410 Shares of Jacobs Solutions Inc. (NYSE:J)

Price T Rowe Associates Inc. MD raised its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 176,899 shares of the company's stock after purchasing an additional 2,410 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.14% of Jacobs Solutions worth $23,639,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC raised its position in Jacobs Solutions by 0.3% in 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 lifted its position in Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company's stock valued at $265,649,000 after purchasing an additional 449,161 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Jacobs Solutions by 9.5% during the fourth 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 during the period. Bank of New York Mellon Corp boosted its holdings in Jacobs Solutions by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company's stock worth $119,724,000 after purchasing an additional 78,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Jacobs Solutions by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company's stock worth $103,941,000 after purchasing an additional 17,372 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Price Performance

Shares of NYSE:J traded down $0.84 during midday trading on Wednesday, reaching $118.63. 132,446 shares of the company were exchanged, compared to its average volume of 795,797. The stock has a market cap of $14.54 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The business's fifty day moving average is $120.70 and its two-hundred day moving average is $131.24. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $156.31. 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 (NYSE:J - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.41 by $0.02. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. The business's revenue was up 2.2% on a year-over-year basis. As a group, analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Jacobs Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 23rd will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.08%. The ex-dividend date is Friday, May 23rd. Jacobs Solutions's dividend payout ratio is presently 26.39%.

Wall Street Analyst Weigh In

J has been the subject of several recent research reports. Citigroup cut 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. Truist Financial reduced their price objective on Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, Robert W. Baird reduced their price target on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $150.86.

Jacobs Solutions 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.