Jacobs Solutions Inc. (NYSE:J) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in Jacobs Solutions Inc. (NYSE:J) by 12.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 238,675 shares of the company’s stock after acquiring an additional 26,525 shares during the quarter. Victory Capital Management Inc. owned 0.19% of Jacobs Solutions worth $31,892,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in Jacobs Solutions by 2.4% in the third quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock valued at $410,444,000 after acquiring an additional 73,566 shares during the period. Ninety One UK Ltd lifted its holdings in Jacobs Solutions by 29.2% in 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 period. Kovitz Investment Group Partners LLC lifted its holdings in Jacobs Solutions by 3.2% in the third quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock valued at $143,263,000 after acquiring an additional 32,650 shares during the period. Bank of New York Mellon Corp lifted its holdings in Jacobs Solutions by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock valued at $119,724,000 after acquiring an additional 78,284 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Jacobs Solutions by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company’s stock worth $103,941,000 after buying an additional 17,372 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Trading Up 0.8 %

Jacobs Solutions stock opened at $124.62 on Monday. The stock has a market cap of $15.27 billion, a PE ratio of 25.69, a P/E/G ratio of 1.84 and a beta of 0.77. The stock has a 50-day moving average price of $132.92 and a 200 day moving average price of $138.56. Jacobs Solutions Inc. has a 52 week low of $110.95 and a 52 week high of $150.54. 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 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. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 EPS. Equities research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions announced that its Board of Directors has initiated a share buyback program on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be issued a $0.32 dividend. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.03%. Jacobs Solutions’s payout ratio is 26.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on J. Royal Bank of Canada reaffirmed an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Robert W. Baird cut their price target on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Truist Financial lifted 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. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.89.

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.