South Plains Financial Inc. Purchases Shares of 5,857 Jacobs Solutions Inc. (NYSE:J)

South Plains Financial Inc. purchased a new position in Jacobs Solutions Inc. (NYSE:J - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,857 shares of the company's stock, valued at approximately $783,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in J. Heritage Family Offices LLP grew its stake in shares of Jacobs Solutions by 55.7% in the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company's stock worth $1,993,000 after purchasing an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in Jacobs Solutions by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company's stock valued at $1,305,000 after buying an additional 175 shares during the period. Occidental Asset Management LLC increased its stake in Jacobs Solutions by 11.7% during the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company's stock valued at $3,347,000 after buying an additional 2,619 shares during the period. JPMorgan Chase & Co. raised its position in shares of Jacobs Solutions by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company's stock worth $56,778,000 after buying an additional 47,211 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Jacobs Solutions in the third quarter valued at approximately $3,205,000. Institutional investors and hedge funds own 85.65% of the company's stock.

Jacobs Solutions Trading Up 2.2 %

Shares of J traded up $2.76 during midday trading on Friday, hitting $127.06. The stock had a trading volume of 1,472,720 shares, compared to its average volume of 794,873. The business has a 50-day simple moving average of $120.83 and a two-hundred day simple moving average of $131.53. The firm has a market cap of $15.57 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73. 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 fifty-two week low of $106.23 and a fifty-two week high of $156.31.

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

Jacobs Solutions announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to buy up to 9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Jacobs Solutions Announces Dividend

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 $0.32 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.01%. Jacobs Solutions's dividend payout ratio is 26.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on J shares. Citigroup cut their target price on 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 lowered 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. Finally, Robert W. Baird reduced their price objective 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. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.