OFI Invest Asset Management Makes New $4.14 Million Investment in Jacobs Solutions Inc. (NYSE:J)

OFI Invest Asset Management purchased a new stake in shares of Jacobs Solutions Inc. (NYSE:J) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 32,059 shares of the company’s stock, valued at approximately $4,137,000.

Several other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in shares of Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Jacobs Solutions by 71.9% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock worth $37,000 after purchasing an additional 115 shares during the last quarter. Quarry LP grew its holdings in Jacobs Solutions by 394.9% during the third quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after purchasing an additional 233 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Jacobs Solutions in the third quarter valued at approximately $42,000. Finally, True Wealth Design LLC bought a new position in shares of Jacobs Solutions in the third quarter valued at approximately $44,000. Institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Up 0.8 %

Shares of J stock opened at $124.62 on Friday. The stock has a market cap of $15.27 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. 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 stock has a fifty day moving average price of $132.92 and a 200 day moving average price of $138.62. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share 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 analyst estimates of $2.92 billion. During the same period in the previous year, the business earned $1.45 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. Analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 4th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, February 21st. This is a boost 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 1.03%. Jacobs Solutions’s dividend payout ratio is presently 26.39%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Citigroup lowered their price target 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. StockNews.com started coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Truist Financial raised their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock 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.