Jacobs Solutions Inc. (NYSE:J) Shares Bought by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 14.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,224 shares of the company’s stock after purchasing an additional 403 shares during the period. Pinnacle Financial Partners Inc’s holdings in Jacobs Solutions were worth $431,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ninety One UK Ltd lifted its stake in 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 in the last quarter. Sessa Capital IM L.P. purchased a new position in Jacobs Solutions in the 3rd quarter worth approximately $46,168,000. Soros Fund Management LLC lifted its stake in Jacobs Solutions by 34.3% in the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock worth $65,569,000 after purchasing an additional 127,874 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Jacobs Solutions by 28.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock worth $70,296,000 after purchasing an additional 117,940 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Jacobs Solutions by 19.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company’s stock worth $85,099,000 after purchasing an additional 107,849 shares in the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. StockNews.com started coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating for the company. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Royal Bank of Canada restated an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Finally, Truist Financial raised their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Jacobs Solutions has a consensus rating of “Moderate Buy” and an average target price of $155.89.

Jacobs Solutions Price Performance

Shares of J opened at $129.12 on Monday. Jacobs Solutions Inc. has a 1-year low of $110.95 and a 1-year high of $150.54. The stock has a market cap of $15.82 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.84 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a fifty day moving average price of $134.83 and a 200 day moving average price of $139.95.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, beating 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 firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the company earned $1.45 earnings per share. Jacobs Solutions’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current 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 issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is presently 23.92%.

Jacobs Solutions declared that its board has initiated a stock repurchase program on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership 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.