Jacobs Solutions Inc. (NYSE:J) Stake Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in Jacobs Solutions Inc. (NYSE:J) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,436,115 shares of the company’s stock after buying an additional 4,187 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.96% of Jacobs Solutions worth $323,916,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its holdings in Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Quarry LP increased its position in shares of Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after purchasing an additional 233 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Jacobs Solutions in the 3rd quarter worth $42,000. True Wealth Design LLC bought a new stake in shares of Jacobs Solutions in the 3rd quarter worth $44,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Jacobs Solutions by 55.8% in the third quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock valued at $53,000 after buying an additional 145 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Stock Performance

Shares of J stock opened at $133.21 on Wednesday. The stock’s fifty day simple moving average is $136.06 and its 200-day simple moving average is $140.80. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.88 and a beta of 0.72. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.41. 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, beating analysts’ consensus estimates of $1.29 by $0.04. The company 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 for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $1.45 EPS. On average, sell-side analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions announced that its board has initiated a stock repurchase plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be paid a $0.32 dividend. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 0.96%. Jacobs Solutions’s payout ratio is presently 23.92%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on J shares. 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. StockNews.com began coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating for the company. Citigroup dropped their price target on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, Truist Financial boosted their target price on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.89.

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.