Geode Capital Management LLC Purchases 10,174 Shares of Jacobs Solutions Inc. (NYSE:J)

Geode Capital Management LLC grew its holdings in Jacobs Solutions Inc. (NYSE:J) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,155,839 shares of the company’s stock after acquiring an additional 10,174 shares during the quarter. Geode Capital Management LLC owned 2.58% of Jacobs Solutions worth $420,626,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Avalon Trust Co bought a new position in Jacobs Solutions during the 4th quarter worth $33,000. Larson Financial Group LLC grew its holdings in shares of Jacobs Solutions by 71.9% during 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 in the last quarter. Quarry LP increased its position in shares of Jacobs Solutions by 394.9% in the third quarter. Quarry LP now owns 292 shares of the company’s stock worth $38,000 after purchasing an additional 233 shares during the period. Assetmark Inc. raised its stake 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 purchasing an additional 100 shares in the last quarter. Finally, Catalyst Capital Advisors LLC lifted its position in Jacobs Solutions by 215.7% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company’s stock worth $49,000 after purchasing an additional 248 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

J has been the subject of several analyst reports. Truist Financial boosted their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Citigroup lowered 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 report on Wednesday, January 29th. Robert W. Baird reduced their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $153.86.

Jacobs Solutions Trading Down 5.9 %

NYSE J opened at $111.47 on Friday. Jacobs Solutions Inc. has a twelve month low of $110.90 and a twelve month high of $156.31. The business’s fifty day moving average is $127.24 and its 200 day moving average is $135.21. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 1.84 and a beta of 0.73.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.45 earnings per share. As a group, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is 26.39%.

Jacobs Solutions declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are 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.