Point72 Asia Singapore Pte. Ltd. Buys Shares of 2,659 Jacobs Solutions Inc. (NYSE:J)

Point72 Asia Singapore Pte. Ltd. purchased a new position in Jacobs Solutions Inc. (NYSE:J) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,659 shares of the company’s stock, valued at approximately $355,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kovitz Investment Group Partners LLC raised its holdings in Jacobs Solutions by 345.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company’s stock valued at $619,676,000 after acquiring an additional 3,597,564 shares during the period. Lazard Asset Management LLC boosted its position in shares of Jacobs Solutions by 933.6% during the fourth quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company’s stock valued at $281,808,000 after buying an additional 1,904,988 shares during the period. Ninety One UK Ltd boosted its position in shares of Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock valued at $265,649,000 after buying an additional 449,161 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Jacobs Solutions by 15,913.6% during the fourth quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company’s stock valued at $59,977,000 after buying an additional 446,057 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Jacobs Solutions by 148.2% during the fourth quarter. Deutsche Bank AG now owns 664,564 shares of the company’s stock valued at $88,799,000 after acquiring an additional 396,759 shares in the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on J. 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 note on Wednesday, February 5th. Truist Financial upped their price target on Jacobs Solutions from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Monday. Citigroup dropped their price objective on shares of Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating on the stock in a report on Friday, April 25th. UBS Group dropped their price objective on shares of Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, Royal Bank of Canada boosted their price objective on shares of Jacobs Solutions from $152.00 to $154.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $150.86.

Jacobs Solutions Price Performance

NYSE:J opened at $128.74 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 quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.84 and a beta of 0.77. The firm’s fifty day moving average is $120.74 and its two-hundred day moving average is $130.51.

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

Jacobs Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, May 23rd. Jacobs Solutions’s payout ratio is currently 35.26%.

Jacobs Solutions announced that its board has initiated a stock repurchase program on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.