Amalgamated Bank Purchases 610 Shares of Jacobs Solutions Inc. (NYSE:J)

Amalgamated Bank raised its position in Jacobs Solutions Inc. (NYSE:J) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,167 shares of the company’s stock after purchasing an additional 610 shares during the period. Amalgamated Bank’s holdings in Jacobs Solutions were worth $3,496,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after buying an additional 74 shares during the period. Empirical Finance LLC raised its holdings in shares of Jacobs Solutions by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 4,358 shares of the company’s stock valued at $570,000 after acquiring an additional 82 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Jacobs Solutions by 4.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock valued at $293,000 after acquiring an additional 86 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Jacobs Solutions by 10.6% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company’s stock worth $128,000 after purchasing an additional 92 shares in the last quarter. Finally, Greenleaf Trust increased its position in shares of Jacobs Solutions by 3.5% in the fourth quarter. Greenleaf Trust now owns 2,773 shares of the company’s stock worth $371,000 after purchasing an additional 95 shares during the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Trading Up 1.3 %

Shares of J stock opened at $128.22 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. The business has a 50-day moving average of $134.08 and a 200 day moving average of $139.45. The stock has a market capitalization of $15.71 billion, a PE ratio of 26.44, a P/E/G ratio of 1.84 and a beta of 0.72. Jacobs Solutions Inc. has a 1-year low of $110.95 and a 1-year high of $150.54.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (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 firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the business earned $1.45 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate 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 share buyback program on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued a dividend of $0.32 per share. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is currently 26.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on J shares. Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $152.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Citigroup dropped their price target on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Robert W. Baird reduced 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.89.

Jacobs Solutions Company 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.