Choreo LLC Purchases 1,247 Shares of Jacobs Solutions Inc. (NYSE:J)

Choreo LLC raised its position in Jacobs Solutions Inc. (NYSE:J) by 50.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,700 shares of the company’s stock after buying an additional 1,247 shares during the period. Choreo LLC’s holdings in Jacobs Solutions were worth $494,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in J. First Horizon Advisors Inc. increased its stake in shares of 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 buying an additional 74 shares during the period. Quarry LP grew its holdings in Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock worth $38,000 after acquiring an additional 233 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Jacobs Solutions in the 3rd quarter valued at approximately $42,000. True Wealth Design LLC bought a new position in shares of Jacobs Solutions during the third quarter valued at $44,000. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 owned by institutional investors and hedge funds.

Jacobs Solutions Stock Performance

NYSE:J opened at $133.21 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a twelve month low of $110.95 and a twelve month high of $150.54. The company has a fifty day moving average of $136.06 and a 200-day moving average of $140.80. The firm has a market capitalization of $16.32 billion, a P/E ratio of 27.47, a P/E/G ratio of 1.88 and a beta of 0.72.

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

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

Jacobs Solutions Increases Dividend

The company 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 $0.32 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 0.96%. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is presently 23.92%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on J. Truist Financial raised their target price 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 restated an “outperform” rating and set a $152.00 price objective on shares of Jacobs Solutions in a research report 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 report on Wednesday, February 5th. StockNews.com began coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $155.89.

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.