Cidel Asset Management Inc. Acquires 45,666 Shares of Jacobs Solutions Inc. (NYSE:J)

Cidel Asset Management Inc. grew its holdings in Jacobs Solutions Inc. (NYSE:J) by 20.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 273,159 shares of the company’s stock after buying an additional 45,666 shares during the quarter. Jacobs Solutions comprises about 2.5% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 9th largest holding. Cidel Asset Management Inc.’s holdings in Jacobs Solutions were worth $36,500,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Ninety One UK Ltd boosted 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 purchasing an additional 449,161 shares during the period. Sessa Capital IM L.P. acquired a new stake in Jacobs Solutions in the 3rd quarter valued at about $46,168,000. Soros Fund Management LLC raised its position in Jacobs Solutions by 34.3% in the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock valued at $65,569,000 after purchasing an additional 127,874 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Jacobs Solutions by 28.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock valued at $70,296,000 after buying an additional 117,940 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Jacobs Solutions by 19.9% during 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 worth $85,099,000 after buying an additional 107,849 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Wall Street Analyst Weigh In

J has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 10th. Royal Bank of Canada restated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Truist Financial boosted their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Citigroup cut their price target 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. Finally, Robert W. Baird lowered their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Jacobs Solutions currently has an average rating of “Moderate Buy” and an average price target of $155.89.

Jacobs Solutions Stock Performance

Shares of J stock opened at $133.97 on Friday. The stock’s 50-day moving average is $136.30 and its two-hundred day moving average is $141.08. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.20 and a current ratio of 1.20. Jacobs Solutions Inc. has a 1 year low of $110.95 and a 1 year high of $150.54. The firm has a market cap of $16.42 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.11 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last released 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 the consensus estimate 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. Analysts predict that Jacobs Solutions Inc. will post 6.06 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The firm 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 $0.32 dividend. This is an increase 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 0.96%. Jacobs Solutions’s dividend payout ratio is 26.39%.

Jacobs Solutions declared that its board has initiated a share buyback 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 leadership believes its stock is 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.