Intact Investment Management Inc. Has $989,000 Position in Jacobs Solutions Inc. (NYSE:J)

Intact Investment Management Inc. grew its position in Jacobs Solutions Inc. (NYSE:J) by 69.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,400 shares of the company’s stock after buying an additional 3,040 shares during the quarter. Intact Investment Management Inc.’s holdings in Jacobs Solutions were worth $989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in J. Ninety One UK Ltd raised its position in shares of Jacobs Solutions by 29.2% in the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock valued at $265,649,000 after buying an additional 449,161 shares in the last quarter. Proficio Capital Partners LLC increased its position in Jacobs Solutions by 15,913.6% during the 4th quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company’s stock worth $59,977,000 after purchasing an additional 446,057 shares in the last quarter. Sessa Capital IM L.P. acquired a new position in Jacobs Solutions during the 3rd quarter worth approximately $46,168,000. Raymond James Financial Inc. acquired a new position in Jacobs Solutions during the 4th quarter worth approximately $24,069,000. Finally, Soros Fund Management LLC increased its position in Jacobs Solutions by 34.3% during the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock worth $65,569,000 after purchasing an additional 127,874 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

J has been the subject of a number of research analyst reports. Citigroup lowered their price objective 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. Truist Financial upped their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Benchmark cut shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Robert W. Baird decreased their price target on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $153.63.

Jacobs Solutions Trading Up 2.7 %

NYSE:J opened at $122.50 on Friday. The firm’s fifty day moving average is $131.75 and its 200-day moving average is $137.75. 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 Inc. has a 52 week low of $110.95 and a 52 week high of $150.54. The firm has a market cap of $15.01 billion, a P/E ratio of 25.26, a P/E/G ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating 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 firm posted $1.45 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The company also recently disclosed 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 is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is currently 26.39%.

Jacobs Solutions announced that its board has approved a share buyback plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is 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.