First Manhattan CO. LLC. Has $2.36 Million Position in Jacobs Solutions Inc. (NYSE:J)

First Manhattan CO. LLC. boosted its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 125.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,688 shares of the company’s stock after purchasing an additional 9,851 shares during the period. First Manhattan CO. LLC.’s holdings in Jacobs Solutions were worth $2,363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC increased its stake in shares of Jacobs Solutions by 345.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company’s stock worth $619,676,000 after purchasing an additional 3,597,564 shares during the last quarter. Ninety One UK Ltd boosted its stake in shares of Jacobs Solutions by 29.2% during the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock worth $265,649,000 after acquiring an additional 449,161 shares in the last quarter. Proficio Capital Partners LLC raised its stake 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 valued at $59,977,000 after acquiring an additional 446,057 shares in the last quarter. Deutsche Bank AG lifted its holdings in Jacobs Solutions by 148.2% in the 4th quarter. Deutsche Bank AG now owns 664,564 shares of the company’s stock worth $88,799,000 after purchasing an additional 396,759 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Jacobs Solutions by 40.3% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,007,612 shares of the company’s stock worth $134,637,000 after purchasing an additional 289,573 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Down 0.1 %

Shares of J stock opened at $122.78 on Friday. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $156.31. 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 $120.47 and a 200 day moving average price of $130.81. The stock has a market cap of $15.05 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $3 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.91 earnings per share. Analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, May 23rd. Jacobs Solutions’s dividend payout ratio (DPR) is 35.26%.

Jacobs Solutions declared that its board has approved a share buyback plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

J has been the subject of several recent analyst reports. Robert W. Baird decreased their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada raised their price target on Jacobs Solutions from $152.00 to $154.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial dropped their price objective on Jacobs Solutions from $141.00 to $130.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. UBS Group decreased their target price on Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating for the company in a research note on Friday. Finally, Citigroup dropped their price target on Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $149.29.

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.