Jacobs Solutions Inc. (NYSE:J) Shares Purchased by Manchester Capital Management LLC

Manchester Capital Management LLC boosted its stake in Jacobs Solutions Inc. (NYSE:J) by 20.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,566 shares of the company’s stock after acquiring an additional 265 shares during the period. Manchester Capital Management LLC’s holdings in Jacobs Solutions were worth $209,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Heritage Family Offices LLP lifted its stake in shares of Jacobs Solutions by 55.7% during the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock valued at $1,993,000 after buying an additional 5,332 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of Jacobs Solutions by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock worth $1,305,000 after purchasing an additional 175 shares during the period. Occidental Asset Management LLC boosted its holdings in shares of Jacobs Solutions by 11.7% during the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock worth $3,347,000 after purchasing an additional 2,619 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Jacobs Solutions by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock valued at $56,778,000 after purchasing an additional 47,211 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Jacobs Solutions in the third quarter valued at $3,205,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on J. Truist Financial raised their price target on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and issued a $152.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, StockNews.com started coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.89.

Jacobs Solutions Price Performance

J stock opened at $128.81 on Friday. The stock has a 50-day simple moving average of $135.47 and a 200-day simple moving average of $140.45. The firm has a market cap of $15.78 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.20 and a current ratio of 1.25. Jacobs Solutions Inc. has a 1 year low of $110.95 and a 1 year high of $150.54.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 earnings per share. On average, equities analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a $0.32 dividend. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is presently 26.39%.

Jacobs Solutions declared that its board has approved a stock buyback program on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase 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.