Van ECK Associates Corp Has $17.04 Million Stake in Jacobs Solutions Inc. (NYSE:J)

Van ECK Associates Corp raised its position in Jacobs Solutions Inc. (NYSE:J) by 144.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 127,558 shares of the company’s stock after purchasing an additional 75,377 shares during the quarter. Van ECK Associates Corp’s holdings in Jacobs Solutions were worth $17,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in shares of Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Quarry LP boosted its position in Jacobs Solutions by 394.9% during the third quarter. Quarry LP now owns 292 shares of the company’s stock worth $38,000 after purchasing an additional 233 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Jacobs Solutions in the third quarter valued at $42,000. True Wealth Design LLC bought a new position in shares of Jacobs Solutions in the third quarter valued at about $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Jacobs Solutions during the 4th quarter worth about $65,000. Institutional investors own 85.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on J. The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Citigroup lowered their target price on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Truist Financial increased their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $152.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Jacobs Solutions currently has an average rating of “Moderate Buy” and an average target price of $155.89.

Jacobs Solutions Price Performance

Shares of NYSE:J opened at $128.81 on Friday. The firm has a 50 day moving average of $135.47 and a 200-day moving average of $140.45. Jacobs Solutions Inc. has a 12 month low of $110.95 and a 12 month high of $150.54. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $15.78 billion, a PE ratio of 26.56, a PEG ratio of 1.88 and a beta of 0.72.

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

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 Increases Dividend

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

Jacobs Solutions Company 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.