CIBC Asset Management Inc Purchases 5,774 Shares of Jacobs Solutions Inc. (NYSE:J)

CIBC Asset Management Inc boosted its position in Jacobs Solutions Inc. (NYSE:J) by 31.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 23,991 shares of the company’s stock after acquiring an additional 5,774 shares during the period. CIBC Asset Management Inc’s holdings in Jacobs Solutions were worth $3,206,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of 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 in the last quarter. Ninety One UK Ltd boosted its stake in shares of 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 in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Jacobs Solutions by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 760,516 shares of the company’s stock valued at $99,552,000 after purchasing an additional 14,405 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Jacobs Solutions by 19.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company’s stock valued at $85,099,000 after purchasing an additional 107,849 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on J shares. Robert W. Baird cut their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. StockNews.com started coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Citigroup lowered 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. Benchmark cut shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Jacobs Solutions has an average rating of “Moderate Buy” and an average target price of $155.89.

Jacobs Solutions Trading Down 0.3 %

Shares of NYSE J opened at $130.06 on Friday. The firm’s 50 day moving average price is $134.99 and its 200-day moving average price is $140.03. The company has a market cap of $15.94 billion, a PE ratio of 26.82, a P/E/G ratio of 1.84 and a beta of 0.72. Jacobs Solutions Inc. has a 52-week low of $110.95 and a 52-week high of $150.54. 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 (NYSE:J) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.93 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 earnings per share. On average, equities research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is currently 26.39%.

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

Jacobs Solutions 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.