Intact Investment Management Inc. Buys 3,040 Shares of Jacobs Solutions Inc. (NYSE:J)

Intact Investment Management Inc. lifted its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 69.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,400 shares of the company’s stock after acquiring an additional 3,040 shares during the period. Intact Investment Management Inc.’s holdings in Jacobs Solutions were worth $989,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in J. 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 purchasing an additional 74 shares in the last quarter. Empirical Finance LLC grew 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 purchasing an additional 82 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in Jacobs Solutions by 4.0% in the third quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock valued at $293,000 after purchasing an additional 86 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Jacobs Solutions by 10.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company’s stock valued at $128,000 after purchasing an additional 92 shares in the last quarter. Finally, Greenleaf Trust grew its position in 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 purchasing an additional 95 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

NYSE J opened at $122.50 on Friday. The firm has a 50-day moving average of $131.75 and a 200-day moving average of $137.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $15.01 billion, a PE ratio of 25.26, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 52-week low of $110.95 and a 52-week high of $150.54.

Jacobs Solutions (NYSE:J) last posted its 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 net margin of 4.28% and a return on equity of 14.87%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the company posted $1.45 EPS. Jacobs Solutions’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.04%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is currently 26.39%.

Jacobs Solutions announced that its board has initiated a share buyback plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup decreased their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. 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. Truist Financial increased their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $153.63.

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.