Gibraltar Capital Management Inc. Invests $6.57 Million in Jacobs Solutions Inc. (NYSE:J)

Gibraltar Capital Management Inc. bought a new position in shares of Jacobs Solutions Inc. (NYSE:J) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 49,179 shares of the company’s stock, valued at approximately $6,571,000. Jacobs Solutions makes up 2.9% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 19th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ninety One UK Ltd lifted its holdings in Jacobs Solutions by 29.2% during the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock worth $265,649,000 after purchasing an additional 449,161 shares during the last quarter. Sessa Capital IM L.P. acquired a new position in Jacobs Solutions during the 3rd quarter worth approximately $46,168,000. Soros Fund Management LLC lifted its stake in shares of Jacobs Solutions by 34.3% in the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock valued at $65,569,000 after acquiring an additional 127,874 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Jacobs Solutions by 28.1% during the third quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock valued at $70,296,000 after purchasing an additional 117,940 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Jacobs Solutions by 19.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company’s stock valued at $85,099,000 after acquiring an additional 107,849 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

J has been the subject of several recent analyst reports. Truist Financial raised their target price on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Robert W. Baird cut their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, Citigroup cut their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.89.

Jacobs Solutions Trading Down 1.1 %

Shares of Jacobs Solutions stock opened at $127.02 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. Jacobs Solutions Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $150.54. The company has a fifty day moving average of $134.51 and a 200 day moving average of $139.74. The company has a market capitalization of $15.57 billion, a P/E ratio of 26.19, a P/E/G ratio of 1.84 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last released its quarterly earnings results 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 return on equity of 14.87% and a net margin of 4.28%. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business posted $1.45 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.01%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is presently 26.39%.

Jacobs Solutions announced that its Board of Directors has approved a share buyback program on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

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.