NorthRock Partners LLC Makes New Investment in Jacobs Solutions Inc. (NYSE:J)

NorthRock Partners LLC acquired a new position in shares of Jacobs Solutions Inc. (NYSE:J) in the 4th quarter, Holdings Channel.com reports. The firm acquired 2,393 shares of the company’s stock, valued at approximately $320,000.

Other hedge funds have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC raised its position in shares of Jacobs Solutions by 345.9% in 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 buying an additional 3,597,564 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Jacobs Solutions by 933.6% in 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 in the last quarter. Ninety One UK Ltd raised its position in shares of Jacobs Solutions by 29.2% in 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 in the last quarter. Proficio Capital Partners LLC raised its position in shares of Jacobs Solutions by 15,913.6% in 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 in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Jacobs Solutions by 148.2% in the fourth quarter. Deutsche Bank AG now owns 664,564 shares of the company’s stock valued at $88,799,000 after buying an additional 396,759 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of Jacobs Solutions from $130.00 to $141.00 and gave the company a “hold” rating in a research report on Monday, May 12th. Royal Bank of Canada lifted their price target on shares of 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 decreased their price objective on shares of Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Robert W. Baird decreased their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup decreased their price objective 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.86.

Jacobs Solutions Stock Up 0.2%

J stock opened at $129.11 on Friday. The stock has a market capitalization of $15.51 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. 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 Inc. has a 12 month low of $106.23 and a 12 month high of $156.31. The firm has a 50-day moving average price of $120.88 and a 200-day moving average price of $130.34.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. The firm 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 company’s revenue 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. As a group, equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

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

Jacobs Solutions announced that its board has authorized a share repurchase program on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board 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.