Cibc World Markets Corp Raises Stake in Jacobs Solutions Inc. (NYSE:J)

Cibc World Markets Corp raised its position in shares of Jacobs Solutions Inc. (NYSE:J) by 15.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,602 shares of the company’s stock after purchasing an additional 2,588 shares during the quarter. Cibc World Markets Corp’s holdings in Jacobs Solutions were worth $2,619,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of J. Ninety One UK Ltd increased its position in 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 acquiring an additional 449,161 shares during the last quarter. Proficio Capital Partners LLC lifted 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 last quarter. Sessa Capital IM L.P. purchased a new stake in shares of Jacobs Solutions during the third quarter valued at about $46,168,000. Natixis Advisors LLC lifted its position in shares of Jacobs Solutions by 138.9% during the fourth quarter. Natixis Advisors LLC now owns 479,452 shares of the company’s stock valued at $64,065,000 after buying an additional 278,777 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Jacobs Solutions in the 4th quarter valued at approximately $24,069,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on J shares. StockNews.com started coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Robert W. Baird dropped their price target 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. Royal Bank of Canada reissued an “outperform” rating and issued a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Truist Financial raised their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, Citigroup decreased their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $153.63.

Jacobs Solutions Trading Down 2.0 %

Shares of J stock opened at $121.75 on Friday. Jacobs Solutions Inc. has a fifty-two week low of $118.71 and a fifty-two week high of $156.31. The stock has a market cap of $14.92 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.84 and a beta of 0.77. The business has a fifty day simple moving average of $130.96 and a 200-day simple moving average of $137.00. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business posted $1.45 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts forecast 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. Stockholders of record on Friday, February 21st will be paid a $0.32 dividend. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s payout ratio is currently 26.39%.

Jacobs Solutions declared that its board has approved a stock 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 purchase up to 9% of its shares through open market purchases. Shares buyback programs are often a sign 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.