Elo Mutual Pension Insurance Co Takes Position in Jacobs Solutions Inc. (NYSE:J)

Elo Mutual Pension Insurance Co acquired a new position in shares of Jacobs Solutions Inc. (NYSE:J) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,469 shares of the company’s stock, valued at approximately $2,201,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Heritage Family Offices LLP increased its holdings in shares of Jacobs Solutions by 55.7% during the 4th quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock worth $1,993,000 after buying an additional 5,332 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Jacobs Solutions by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock valued at $1,305,000 after purchasing an additional 175 shares during the period. Occidental Asset Management LLC lifted its stake in shares of Jacobs Solutions by 11.7% in the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after purchasing an additional 2,619 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Jacobs Solutions by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock worth $56,778,000 after purchasing an additional 47,211 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Jacobs Solutions in the 3rd quarter valued at about $3,205,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on J shares. Citigroup dropped their price target 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. Robert W. Baird cut their target price 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. The Goldman Sachs Group restated a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Truist Financial boosted their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $153.63.

Jacobs Solutions Stock Performance

Shares of J opened at $121.25 on Friday. Jacobs Solutions Inc. has a 1 year low of $118.71 and a 1 year high of $156.31. The stock has a market capitalization of $14.86 billion, a PE ratio of 25.00, a PEG ratio of 1.84 and a beta of 0.77. 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 50-day simple moving average of $129.38 and a 200-day simple moving average of $135.98.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping the consensus estimate 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 in the previous year, the business posted $1.45 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

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

Jacobs Solutions announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows 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 board 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.