Wilmington Savings Fund Society FSB Decreases Stake in Jacobs Solutions Inc. (NYSE:J)

Wilmington Savings Fund Society FSB decreased its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,578 shares of the company’s stock after selling 906 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Jacobs Solutions were worth $3,150,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of J. First Horizon Advisors Inc. boosted its stake in Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Quarry LP boosted its position in shares of Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after acquiring an additional 233 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Jacobs Solutions in the third quarter valued at about $42,000. True Wealth Design LLC acquired a new stake in Jacobs Solutions during the third quarter worth about $44,000. Finally, GAMMA Investing LLC raised its stake in Jacobs Solutions by 55.8% during the third quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock worth $53,000 after purchasing an additional 145 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Stock Up 0.4 %

Shares of J opened at $133.97 on Friday. The company’s 50-day simple moving average is $136.17 and its 200-day simple moving average is $140.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.20 and a current ratio of 1.25. Jacobs Solutions Inc. has a 1 year low of $110.95 and a 1 year high of $150.54. The stock has a market capitalization of $16.42 billion, a PE ratio of 27.62, a P/E/G ratio of 1.88 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last released 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 for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business earned $1.45 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. 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 approved a stock repurchase program on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be issued a dividend of $0.32 per share. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 0.96%. Jacobs Solutions’s dividend payout ratio is 23.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on J shares. 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. Royal Bank of Canada reissued an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Robert W. Baird reduced 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. Benchmark cut Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, StockNews.com began coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Jacobs Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.89.

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.