Jacobs Solutions (NYSE:J) Given New $160.00 Price Target at Citigroup

Jacobs Solutions (NYSE:J) had its target price trimmed by Citigroup from $161.00 to $160.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also weighed in on J. StockNews.com started coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating for the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $150.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 10th. Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Robert W. Baird lifted their price objective on shares of Jacobs Solutions from $147.00 to $149.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Truist Financial upped their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Jacobs Solutions Stock Up 0.1 %

Shares of J opened at $139.99 on Wednesday. The business’s 50 day moving average is $136.73 and its 200 day moving average is $141.51. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.30. Jacobs Solutions has a 12-month low of $110.95 and a 12-month high of $150.54. The company has a market capitalization of $17.36 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 2.07 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data on Tuesday, November 19th. The company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.71). Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Research analysts expect that Jacobs Solutions will post 6.06 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The firm also recently announced 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. This represents a $1.28 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is 18.33%.

Institutional Investors Weigh In On Jacobs Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in 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 buying an additional 73,566 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock valued at $265,649,000 after acquiring an additional 449,161 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of Jacobs Solutions by 3.2% in the third 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 during the period. Charles Schwab Investment Management Inc. grew its stake in Jacobs Solutions by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 760,516 shares of the company’s stock worth $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 increased its holdings in 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 worth $85,099,000 after purchasing an additional 107,849 shares during the period. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

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.