Gitterman Wealth Management LLC Buys 356 Shares of Jacobs Solutions Inc. (NYSE:J)

Gitterman Wealth Management LLC lifted its stake in Jacobs Solutions Inc. (NYSE:J) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,888 shares of the company’s stock after acquiring an additional 356 shares during the period. Gitterman Wealth Management LLC’s holdings in Jacobs Solutions were worth $386,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. increased its position in Jacobs Solutions by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 347,932 shares of the company’s stock valued at $45,544,000 after buying an additional 3,228 shares in the last quarter. Victory Capital Management Inc. increased its position in Jacobs Solutions by 1.0% during the 3rd quarter. Victory Capital Management Inc. now owns 212,150 shares of the company’s stock valued at $27,770,000 after buying an additional 2,031 shares in the last quarter. KBC Group NV increased its position in Jacobs Solutions by 4.5% during the 3rd quarter. KBC Group NV now owns 12,836 shares of the company’s stock valued at $1,680,000 after buying an additional 547 shares in the last quarter. Metis Global Partners LLC increased its position in Jacobs Solutions by 83.6% during the 3rd quarter. Metis Global Partners LLC now owns 7,246 shares of the company’s stock valued at $949,000 after buying an additional 3,299 shares in the last quarter. Finally, ING Groep NV acquired a new position in Jacobs Solutions during the 3rd quarter valued at about $2,192,000. 85.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on J shares. Truist Financial upped their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, Citigroup dropped their price target on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $153.63.

Jacobs Solutions Stock Up 2.7 %

Shares of J opened at $122.50 on Friday. Jacobs Solutions Inc. has a 52 week low of $110.95 and a 52 week high of $150.54. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.84 and a beta of 0.77. The stock’s 50-day moving average price is $131.75 and its 200-day moving average price is $137.67.

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

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.04%. 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 initiated a share repurchase program on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.