NBT Bank N A NY Reduces Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

NBT Bank N A NY reduced its holdings in Jacobs Solutions Inc. (NYSE:J) by 7.4% during the 4th quarter, Holdings Channel reports. The fund owned 3,575 shares of the company’s stock after selling 286 shares during the period. NBT Bank N A NY’s holdings in Jacobs Solutions were worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Jacobs Solutions by 2.4% during the third quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock worth $410,444,000 after buying an additional 73,566 shares in the last quarter. Ninety One UK Ltd boosted its holdings in Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock worth $265,649,000 after buying an additional 449,161 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Jacobs Solutions by 3.2% during the third quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock worth $143,263,000 after buying an additional 32,650 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Jacobs Solutions by 9.6% during the fourth quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock worth $119,724,000 after buying an additional 78,284 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Jacobs Solutions by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company’s stock worth $103,941,000 after buying an additional 17,372 shares in the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

J has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. StockNews.com started coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Truist Financial upped their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, Benchmark cut shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.89.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $122.34 on Wednesday. The firm has a 50-day simple moving average of $132.49 and a 200-day simple moving average of $138.19. The stock has a market capitalization of $14.99 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a 52 week low of $110.95 and a 52 week high of $150.54.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating 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 net margin of 4.28% and a return on equity of 14.87%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 earnings per share. On average, equities analysts predict 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. Stockholders of record on Friday, February 21st will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is 26.39%.

Jacobs Solutions announced that its Board of Directors has approved a share buyback plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.