North Growth Management Ltd. Sells 2,000 Shares of Jacobs Solutions Inc. (NYSE:J)

North Growth Management Ltd. lessened its position in shares of Jacobs Solutions Inc. (NYSE:J) by 2.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 91,000 shares of the company’s stock after selling 2,000 shares during the quarter. Jacobs Solutions accounts for approximately 2.3% of North Growth Management Ltd.’s investment portfolio, making the stock its 16th largest holding. North Growth Management Ltd.’s holdings in Jacobs Solutions were worth $12,200,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. First Horizon Advisors Inc. grew its position in Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Empirical Finance LLC boosted its position in Jacobs Solutions by 1.9% in the third quarter. Empirical Finance LLC now owns 4,358 shares of the company’s stock valued at $570,000 after buying an additional 82 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in Jacobs Solutions by 4.0% during the third quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock worth $293,000 after buying an additional 86 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Jacobs Solutions by 10.6% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company’s stock worth $128,000 after buying an additional 92 shares in the last quarter. Finally, Greenleaf Trust raised its stake in shares of Jacobs Solutions by 3.5% in the fourth quarter. Greenleaf Trust now owns 2,773 shares of the company’s stock valued at $371,000 after acquiring an additional 95 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on J shares. Robert W. Baird decreased their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Royal Bank of Canada reissued an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, 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 report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.89.

Jacobs Solutions Stock Performance

Shares of J stock opened at $133.97 on Friday. The stock has a market cap of $16.42 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The stock has a 50-day moving average of $136.17 and a 200-day moving average of $140.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.20. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. As a group, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s payout ratio is 23.92%.

Jacobs Solutions declared that its board has authorized a stock 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 reacquire up to 9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

About Jacobs Solutions

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.