Truist Financial Corp Purchases 4,000 Shares of Jacobs Solutions Inc. (NYSE:J)

Truist Financial Corp increased its position in Jacobs Solutions Inc. (NYSE:J) by 6.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 70,341 shares of the company’s stock after buying an additional 4,000 shares during the quarter. Truist Financial Corp’s holdings in Jacobs Solutions were worth $9,399,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Creative Planning lifted its stake in Jacobs Solutions by 1.0% in the 3rd quarter. Creative Planning now owns 32,079 shares of the company’s stock worth $4,199,000 after purchasing an additional 327 shares in the last quarter. Raymond James & Associates lifted its stake in Jacobs Solutions by 23.2% in the 3rd quarter. Raymond James & Associates now owns 134,789 shares of the company’s stock worth $17,644,000 after purchasing an additional 25,354 shares in the last quarter. Private Advisor Group LLC lifted its stake in Jacobs Solutions by 9.9% in the 3rd quarter. Private Advisor Group LLC now owns 13,447 shares of the company’s stock worth $1,760,000 after purchasing an additional 1,210 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Jacobs Solutions by 12,990.4% in the 3rd quarter. International Assets Investment Management LLC now owns 13,614 shares of the company’s stock worth $1,782,000 after purchasing an additional 13,510 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Jacobs Solutions by 9.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 7,765 shares of the company’s stock worth $1,016,000 after purchasing an additional 684 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

Jacobs Solutions stock opened at $129.12 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. Jacobs Solutions Inc. has a 1-year low of $110.95 and a 1-year high of $150.54. The firm has a market capitalization of $15.82 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 1.84 and a beta of 0.72. The company’s 50-day moving average is $134.83 and its 200 day moving average is $139.96.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data 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. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the company posted $1.45 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The company also recently disclosed 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 a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is 23.92%.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on J shares. Truist Financial boosted their price target 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. The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Citigroup decreased their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com started coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.89.

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.