Great Lakes Retirement Inc. Has $2.02 Million Position in Jacobs Solutions Inc. (NYSE:J)

Great Lakes Retirement Inc. raised its holdings in Jacobs Solutions Inc. (NYSE:J) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,100 shares of the company’s stock after acquiring an additional 158 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Jacobs Solutions were worth $2,018,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in J. Heritage Family Offices LLP raised its stake in shares of Jacobs Solutions by 55.7% in the 4th quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock valued at $1,993,000 after acquiring an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in Jacobs Solutions by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock worth $1,305,000 after acquiring an additional 175 shares during the last quarter. Occidental Asset Management LLC boosted its holdings in Jacobs Solutions by 11.7% during the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after acquiring an additional 2,619 shares during the period. JPMorgan Chase & Co. boosted its holdings in Jacobs Solutions by 12.2% during the third quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock valued at $56,778,000 after acquiring an additional 47,211 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Jacobs Solutions in the third quarter valued at about $3,205,000. 85.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial increased their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Robert W. Baird reduced their price objective on 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, Citigroup cut their target price on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Jacobs Solutions has an average rating of “Moderate Buy” and a consensus price target of $155.89.

Jacobs Solutions Price Performance

J opened at $133.21 on Wednesday. The company has a fifty day moving average price of $136.06 and a two-hundred day moving average price of $140.80. The firm has a market capitalization of $16.32 billion, a PE ratio of 27.47, a P/E/G ratio of 1.88 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 1.20 and a current ratio of 1.25.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 earnings per share. As a group, analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share 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 repurchase up to 9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, February 21st. This is a boost 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 0.96%. Jacobs Solutions’s dividend payout ratio is 23.92%.

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.