Cannell & Spears LLC Makes New $5.27 Million Investment in Jacobs Solutions Inc. (NYSE:J)

Cannell & Spears LLC bought a new position in Jacobs Solutions Inc. (NYSE:J) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 39,451 shares of the company’s stock, valued at approximately $5,271,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Orion Portfolio Solutions LLC grew its position in Jacobs Solutions by 0.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 11,006 shares of the company’s stock worth $1,471,000 after acquiring an additional 83 shares during the period. Evoke Wealth LLC grew its holdings in shares of Jacobs Solutions by 0.7% during the 4th quarter. Evoke Wealth LLC now owns 12,385 shares of the company’s stock worth $1,655,000 after purchasing an additional 88 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Jacobs Solutions by 10.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company’s stock worth $128,000 after purchasing an additional 92 shares during the last quarter. Greenleaf Trust raised its holdings in Jacobs Solutions by 3.5% in the 4th quarter. Greenleaf Trust now owns 2,773 shares of the company’s stock valued at $371,000 after buying an additional 95 shares during the period. Finally, Assetmark Inc. lifted its position in Jacobs Solutions by 42.7% in the fourth quarter. Assetmark Inc. now owns 334 shares of the company’s stock valued at $45,000 after buying an additional 100 shares during the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Robert W. Baird cut their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Truist Financial raised their price target on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 10th. Finally, StockNews.com initiated coverage on Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $153.63.

Jacobs Solutions Stock Performance

Shares of J opened at $121.04 on Tuesday. Jacobs Solutions Inc. has a 1 year low of $118.67 and a 1 year high of $156.31. The stock has a market capitalization of $14.83 billion, a PE ratio of 24.96, a PEG ratio of 1.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a 50-day simple moving average of $129.02 and a 200-day simple moving average of $135.79.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results 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 net margin of 4.28% and a return on equity of 14.87%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions announced that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were paid a dividend of $0.32 per share. The ex-dividend date was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is presently 26.39%.

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.