Jacobs Solutions Inc. (NYSE:J) Holdings Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of Jacobs Solutions Inc. (NYSE:J) by 9.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 896,004 shares of the company’s stock after purchasing an additional 78,284 shares during the period. Bank of New York Mellon Corp owned 0.72% of Jacobs Solutions worth $119,724,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in shares of Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after buying an additional 74 shares during the period. Quarry LP boosted its stake in shares of Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after buying an additional 233 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Jacobs Solutions during the 3rd quarter valued at $42,000. True Wealth Design LLC acquired a new stake in shares of Jacobs Solutions during the 3rd quarter valued at $44,000. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of Jacobs Solutions by 215.7% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company’s stock valued at $49,000 after buying an additional 248 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

Shares of J opened at $128.22 on Friday. The company has a market capitalization of $15.71 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 1.84 and a beta of 0.72. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54. 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 company’s fifty day moving average price is $134.08 and its 200 day moving average price is $139.42.

Jacobs Solutions (NYSE:J) last announced its earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping 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 firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the firm posted $1.45 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions declared that its board has initiated 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 reacquire up to 9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued a dividend of $0.32 per share. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 1.00%. Jacobs Solutions’s payout ratio is presently 26.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on J shares. StockNews.com started coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Robert W. Baird reduced 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 note on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Citigroup reduced their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.89.

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.