Jacobs Solutions Inc. (NYSE:J) Sees Large Growth in Short Interest

Jacobs Solutions Inc. (NYSE:J) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 2,660,000 shares, an increase of 52.9% from the January 31st total of 1,740,000 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily volume of 819,900 shares, the days-to-cover ratio is presently 3.2 days.

Wall Street Analyst Weigh In

Several research analysts recently commented on J shares. Truist Financial increased their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Citigroup reduced their price objective 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. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, StockNews.com began coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.89.

Hedge Funds Weigh In On Jacobs Solutions

Hedge funds have recently modified their holdings of the business. Total Wealth Planning & Management Inc. purchased a new position in Jacobs Solutions during the 4th quarter valued at about $751,000. Menard Financial Group LLC purchased a new position in Jacobs Solutions during the 4th quarter valued at about $107,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Jacobs Solutions during the 4th quarter valued at about $13,385,000. Brooklyn FI LLC purchased a new position in Jacobs Solutions during the 4th quarter valued at about $463,000. Finally, Integrated Advisors Network LLC boosted its holdings in Jacobs Solutions by 27.9% during the 4th quarter. Integrated Advisors Network LLC now owns 3,780 shares of the company’s stock valued at $505,000 after acquiring an additional 825 shares during the period. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Performance

NYSE J opened at $122.94 on Wednesday. The stock has a market cap of $15.07 billion, a PE ratio of 25.35, a P/E/G ratio of 1.84 and a beta of 0.72. 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 has a twelve month low of $110.95 and a twelve month high of $150.54. The stock has a fifty day simple moving average of $133.61 and a 200-day simple moving average of $139.06.

Jacobs Solutions (NYSE:J) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 EPS. Equities analysts anticipate that Jacobs Solutions will post 6.05 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, February 21st. This is a boost 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 1.04%. Jacobs Solutions’s dividend payout ratio is currently 26.39%.

Jacobs Solutions declared that its board has authorized a share repurchase program on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

About Jacobs Solutions

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.