iA Global Asset Management Inc. Purchases Shares of 9,531 Jacobs Solutions Inc. (NYSE:J)

iA Global Asset Management Inc. purchased a new stake in shares of Jacobs Solutions Inc. (NYSE:J) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,531 shares of the company’s stock, valued at approximately $1,274,000.

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in Jacobs Solutions by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock valued at $410,444,000 after purchasing an additional 73,566 shares during the last quarter. Ninety One UK Ltd lifted its holdings in Jacobs Solutions by 29.2% during the 4th 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 last quarter. Kovitz Investment Group Partners LLC lifted its holdings in Jacobs Solutions by 3.2% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock valued at $143,263,000 after purchasing an additional 32,650 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Jacobs Solutions by 9.6% during the 4th quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock valued at $119,724,000 after purchasing an additional 78,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Jacobs Solutions by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company’s stock worth $103,941,000 after buying an additional 17,372 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Stock Down 0.5 %

Shares of NYSE J opened at $121.23 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. Jacobs Solutions Inc. has a 52 week low of $118.71 and a 52 week high of $156.31. The stock has a market capitalization of $14.86 billion, a P/E ratio of 24.99, a PEG ratio of 1.84 and a beta of 0.77. The stock’s fifty day moving average is $130.74 and its 200 day moving average is $136.79.

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

Jacobs Solutions declared that its board has initiated a share buyback plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is currently 26.39%.

Wall Street Analysts Forecast Growth

J has been the topic of several recent research reports. Truist Financial increased their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Robert W. Baird lowered their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Citigroup lowered their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Jacobs Solutions currently has an average 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.