Toronto Dominion Bank Grows Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Toronto Dominion Bank grew its stake in Jacobs Solutions Inc. (NYSE:J) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,478 shares of the company’s stock after purchasing an additional 3,757 shares during the period. Toronto Dominion Bank owned approximately 0.05% of Jacobs Solutions worth $8,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Snowden Capital Advisors LLC acquired a new position in Jacobs Solutions in the fourth quarter valued at about $251,000. Shellback Capital LP acquired a new stake in Jacobs Solutions in the 4th quarter valued at approximately $6,681,000. Shell Asset Management Co. raised its position in Jacobs Solutions by 335.9% in the fourth quarter. Shell Asset Management Co. now owns 12,620 shares of the company’s stock valued at $1,686,000 after purchasing an additional 9,725 shares during the period. Royal Bank of Canada raised its position in Jacobs Solutions by 27.7% in the fourth quarter. Royal Bank of Canada now owns 1,046,806 shares of the company’s stock valued at $139,875,000 after purchasing an additional 227,047 shares during the period. Finally, Rafferty Asset Management LLC lifted its stake in Jacobs Solutions by 10.6% during the fourth quarter. Rafferty Asset Management LLC now owns 11,610 shares of the company’s stock worth $1,551,000 after purchasing an additional 1,112 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Price Performance

Shares of J opened at $128.07 on Wednesday. The firm has a market capitalization of $15.39 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 1.84 and a beta of 0.77. The firm’s fifty day simple moving average is $121.20 and its 200-day simple moving average is $130.17. Jacobs Solutions Inc. has a twelve month low of $106.23 and a twelve month high of $156.31. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.02. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $1.91 EPS. Equities analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

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

Jacobs Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors 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 dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, May 23rd. Jacobs Solutions’s dividend payout ratio (DPR) is 35.26%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Jacobs Solutions from $152.00 to $154.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. UBS Group dropped their price objective on shares of Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating for the company in a report on Friday, May 9th. Citigroup cut their target price on shares of Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Robert W. Baird decreased their price target on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, Truist Financial boosted their price target on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a “hold” rating in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Jacobs Solutions has an average rating of “Moderate Buy” and an average target price of $150.86.

Jacobs Solutions 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.