Jacobs Solutions Inc. (NYSE:J) Shares Sold by Bancreek Capital Management LP

Bancreek Capital Management LP reduced its stake in Jacobs Solutions Inc. (NYSE:J) by 31.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 38,133 shares of the company’s stock after selling 17,155 shares during the quarter. Jacobs Solutions accounts for 5.0% of Bancreek Capital Management LP’s investment portfolio, making the stock its 12th largest position. Bancreek Capital Management LP’s holdings in Jacobs Solutions were worth $5,095,000 as of its most recent filing with the SEC.

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

Jacobs Solutions Price Performance

Shares of NYSE J opened at $121.23 on Friday. The stock has a market cap of $14.86 billion, a P/E ratio of 24.99, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a twelve month low of $118.71 and a twelve month high of $156.31. The stock has a 50 day moving average of $130.74 and a two-hundred day moving average of $136.79. 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 (NYSE:J) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. Jacobs Solutions’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions declared that its board has initiated a share buyback plan on Tuesday, February 4th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were issued a dividend of $0.32 per share. The ex-dividend date was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.06%. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio (DPR) is currently 26.39%.

Wall Street Analysts Forecast Growth

J has been the subject of several analyst reports. Citigroup lowered their target price on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Truist Financial boosted their target price on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. StockNews.com began coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, Robert W. Baird cut their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $153.63.

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.