Jacobs Solutions (NYSE:J) Hits New 1-Year Low – Here’s Why

Jacobs Solutions Inc. (NYSE:J)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $118.67 and last traded at $120.43, with a volume of 29470 shares trading hands. The stock had previously closed at $121.22.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Royal Bank of Canada restated an “outperform” rating and issued a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Robert W. Baird cut 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 started coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Finally, Truist Financial boosted their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Jacobs Solutions currently has a consensus rating of “Hold” and an average price target of $153.63.

Jacobs Solutions Stock Performance

The firm has a market capitalization of $14.74 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The company has a 50-day moving average of $129.38 and a 200-day moving average of $135.94. 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 (NYSE:J) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the company earned $1.45 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were paid a $0.32 dividend. 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 1.06%. The ex-dividend date was Friday, February 21st. Jacobs Solutions’s dividend payout ratio is currently 26.39%.

Jacobs Solutions declared that its board has initiated a stock repurchase plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Jacobs Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Kovitz Investment Group Partners LLC grew its holdings in Jacobs Solutions by 345.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company’s stock worth $619,676,000 after purchasing an additional 3,597,564 shares during the period. Lazard Asset Management LLC grew its stake in shares of Jacobs Solutions by 933.6% in the 4th quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company’s stock valued at $281,808,000 after buying an additional 1,904,988 shares during the period. Ninety One UK Ltd grew its stake 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 valued at $265,649,000 after buying an additional 449,161 shares during the period. Proficio Capital Partners LLC increased its position in Jacobs Solutions by 15,913.6% in the 4th quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company’s stock valued at $59,977,000 after buying an additional 446,057 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Jacobs Solutions by 148.2% during the 4th quarter. Deutsche Bank AG now owns 664,564 shares of the company’s stock worth $88,799,000 after buying an additional 396,759 shares during the period. Institutional investors own 85.65% of the company’s stock.

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.