Envestnet Portfolio Solutions Inc. Buys 482 Shares of Jacobs Solutions Inc. (NYSE:J)

Envestnet Portfolio Solutions Inc. lifted its holdings in Jacobs Solutions Inc. (NYSE:J) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,982 shares of the company’s stock after purchasing an additional 482 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Jacobs Solutions were worth $2,002,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in J. Ninety One UK Ltd boosted its position 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 worth $265,649,000 after purchasing an additional 449,161 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Jacobs Solutions by 15,913.6% in the 4th quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company’s stock worth $59,977,000 after purchasing an additional 446,057 shares in the last quarter. Sessa Capital IM L.P. acquired a new stake in shares of Jacobs Solutions in the 3rd quarter worth $46,168,000. Natixis Advisors LLC lifted its position in Jacobs Solutions by 138.9% during the 4th quarter. Natixis Advisors LLC now owns 479,452 shares of the company’s stock worth $64,065,000 after acquiring an additional 278,777 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Jacobs Solutions during the 4th quarter worth about $24,069,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

NYSE J opened at $121.75 on Friday. The stock has a 50-day simple moving average of $130.96 and a two-hundred day simple moving average of $137.00. The firm has a market capitalization of $14.92 billion, a P/E ratio of 25.10, a PEG ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a fifty-two week low of $118.71 and a fifty-two week high of $156.31. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data 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 return on equity of 14.87% and a net margin of 4.28%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business posted $1.45 EPS. The company’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is currently 26.39%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Robert W. Baird lowered their price target on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. StockNews.com assumed coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Citigroup lowered their price target on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Truist Financial lifted 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. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Jacobs Solutions has an average rating of “Hold” and a consensus price target of $153.63.

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.