Shell Asset Management Co. Buys 9,725 Shares of Jacobs Solutions Inc. (NYSE:J)

Shell Asset Management Co. raised its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 335.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,620 shares of the company's stock after buying an additional 9,725 shares during the period. Shell Asset Management Co.'s holdings in Jacobs Solutions were worth $1,686,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Kovitz Investment Group Partners LLC boosted its stake in Jacobs Solutions by 345.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company's stock worth $619,676,000 after purchasing an additional 3,597,564 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Jacobs Solutions by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 3,155,839 shares of the company's stock valued at $420,626,000 after purchasing an additional 10,174 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Jacobs Solutions by 933.6% in the fourth quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company's stock worth $281,808,000 after buying an additional 1,904,988 shares during the period. Ninety One UK Ltd grew its holdings in shares of 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 buying an additional 449,161 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised 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 buying an additional 157,086 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Stock Up 0.3%

J stock traded up $0.43 during trading hours on Thursday, hitting $126.74. The company's stock had a trading volume of 277,844 shares, compared to its average volume of 895,033. Jacobs Solutions Inc. has a 12 month low of $106.23 and a 12 month high of $150.54. The stock has a 50 day moving average price of $121.28 and a two-hundred day moving average price of $130.15. The company has a market capitalization of $15.23 billion, a PE ratio of 26.16, a price-to-earnings-growth 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 (NYSE:J - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates 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 company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.91 earnings per share. On average, equities research analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions declared that its board has approved a stock buyback plan on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to purchase up to 9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Jacobs Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, May 23rd. Jacobs Solutions's dividend payout ratio is currently 35.26%.

Analyst Ratings Changes

A number of equities research analysts have commented on J shares. Royal Bank of Canada raised their price objective on Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. UBS Group dropped their price objective on shares of Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Citigroup decreased 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 note on Friday, April 25th. Truist Financial boosted their price target on shares of Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a report on Monday, May 12th. Finally, Robert W. Baird cut their price objective on Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.