New Age Alpha Advisors LLC Acquires Shares of 58,203 Jacobs Solutions Inc. (NYSE:J)

New Age Alpha Advisors LLC bought a new position in Jacobs Solutions Inc. (NYSE:J) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 58,203 shares of the company’s stock, valued at approximately $7,777,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC increased its position in Jacobs Solutions by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock valued at $410,444,000 after purchasing an additional 73,566 shares during the period. Ninety One UK Ltd raised its position in shares of Jacobs Solutions by 29.2% in the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock worth $265,649,000 after acquiring an additional 449,161 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position 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 valued at $143,263,000 after purchasing an additional 32,650 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Jacobs Solutions by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock valued at $119,724,000 after purchasing an additional 78,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Jacobs Solutions by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company’s stock worth $103,941,000 after purchasing an additional 17,372 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $123.45 on Friday. Jacobs Solutions Inc. has a 52 week low of $118.71 and a 52 week high of $156.31. The business’s 50 day moving average price is $129.74 and its 200 day moving average price is $136.19. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The firm has a market cap of $15.13 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating 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 business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the firm earned $1.45 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.04%. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio (DPR) is presently 26.39%.

Jacobs Solutions announced that its board has approved a stock repurchase program on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on J. The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Truist Financial raised their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Citigroup reduced their target price on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Robert W. Baird lowered their price target on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $153.63.

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.