Ninety One UK Ltd Raises Holdings in Jacobs Solutions Inc. (NYSE:J)

Ninety One UK Ltd lifted its holdings in Jacobs Solutions Inc. (NYSE:J) by 29.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,988,092 shares of the company’s stock after purchasing an additional 449,161 shares during the quarter. Ninety One UK Ltd’s holdings in Jacobs Solutions were worth $265,649,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of J. Sessa Capital IM L.P. purchased a new stake in shares of Jacobs Solutions during the 3rd quarter worth approximately $46,168,000. Soros Fund Management LLC raised its holdings in Jacobs Solutions by 34.3% during the third quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock worth $65,569,000 after purchasing an additional 127,874 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Jacobs Solutions by 28.1% during the third quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock worth $70,296,000 after purchasing an additional 117,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Jacobs Solutions by 19.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company’s stock valued at $85,099,000 after purchasing an additional 107,849 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its position in shares of Jacobs Solutions by 978.5% in the third quarter. Mizuho Securities USA LLC now owns 104,100 shares of the company’s stock valued at $13,627,000 after buying an additional 94,448 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.

Wall Street Analysts Forecast Growth

J has been the topic of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Robert W. Baird upped their price target on shares of Jacobs Solutions from $147.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Benchmark cut shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Truist Financial upped their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, Citigroup lowered their target price 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Jacobs Solutions Price Performance

J stock opened at $133.89 on Wednesday. The stock has a market capitalization of $16.61 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 2.11 and a beta of 0.72. The stock’s fifty day simple moving average is $136.77 and its 200-day simple moving average is $141.29. Jacobs Solutions Inc. has a 52-week low of $110.95 and a 52-week high of $150.54. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.30.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the company earned $1.45 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Jacobs Solutions Inc. will post 6.06 EPS for the current year.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be given a dividend of $0.32 per share. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 0.96%. Jacobs Solutions’s dividend payout ratio is 18.33%.

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

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.