Jacobs Solutions Inc. (NYSE:J) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 12.5% during the fourth quarter, Holdings Channel reports. The firm owned 19,263 shares of the company’s stock after buying an additional 2,141 shares during the period. ProShare Advisors LLC’s holdings in Jacobs Solutions were worth $2,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Quantinno Capital Management LP increased its stake in shares of Jacobs Solutions by 149.1% during the fourth quarter. Quantinno Capital Management LP now owns 68,582 shares of the company’s stock valued at $9,164,000 after acquiring an additional 41,045 shares during the period. Mufg Securities Americas Inc. purchased a new stake in shares of Jacobs Solutions in the fourth quarter valued at $245,000. Nomura Holdings Inc. purchased a new stake in Jacobs Solutions in the 4th quarter worth about $547,000. NorthRock Partners LLC acquired a new stake in Jacobs Solutions during the 4th quarter worth about $320,000. Finally, Needham Investment Management LLC grew its stake in Jacobs Solutions by 30.0% during the 4th quarter. Needham Investment Management LLC now owns 13,000 shares of the company’s stock valued at $1,737,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.

Analysts Set New Price Targets

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

Jacobs Solutions Stock Performance

NYSE:J opened at $128.07 on Wednesday. The stock has a market capitalization of $15.39 billion, a P/E ratio of 26.41, 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 1 year low of $106.23 and a 1 year high of $156.31. The firm has a 50 day moving average of $121.20 and a 200-day moving average of $130.17.

Jacobs Solutions (NYSE:J) last released its quarterly 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. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the firm posted $1.91 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

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

Jacobs Solutions Dividend Announcement

The firm 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 $0.32 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.00%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 35.26%.

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.