Jacobs Solutions Inc. (NYSE:J) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lowered its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,211 shares of the company’s stock after selling 107 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Jacobs Solutions were worth $162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avalon Trust Co purchased a new stake in Jacobs Solutions during the 4th quarter valued at about $33,000. Larson Financial Group LLC lifted its holdings in shares of Jacobs Solutions by 71.9% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock worth $37,000 after purchasing an additional 115 shares during the period. Assetmark Inc. boosted its position in Jacobs Solutions by 42.7% in the fourth quarter. Assetmark Inc. now owns 334 shares of the company’s stock valued at $45,000 after buying an additional 100 shares during the last quarter. Catalyst Capital Advisors LLC increased its holdings in Jacobs Solutions by 215.7% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company’s stock worth $49,000 after buying an additional 248 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new position in Jacobs Solutions during the 4th quarter worth approximately $65,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Performance

NYSE J opened at $118.36 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a twelve month low of $106.23 and a twelve month high of $156.31. The stock has a 50-day moving average of $121.79 and a 200 day moving average of $132.37. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 1.84 and a beta of 0.73.

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

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

Jacobs Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were paid a dividend of $0.32 per share. The ex-dividend date was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.08%. 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 Analyst Weigh In

Several analysts have recently commented on J shares. Truist Financial dropped their price objective on shares of Jacobs Solutions from $141.00 to $130.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Citigroup cut their price target 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. Finally, Robert W. Baird reduced their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $152.14.

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.