Cape ANN Savings Bank Reduces Stake in Jacobs Solutions Inc. (NYSE:J)

Cape ANN Savings Bank cut its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,997 shares of the company’s stock after selling 127 shares during the period. Cape ANN Savings Bank’s holdings in Jacobs Solutions were worth $935,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in J. Raymond James & Associates raised its stake in Jacobs Solutions by 23.2% in the third quarter. Raymond James & Associates now owns 134,789 shares of the company’s stock worth $17,644,000 after buying an additional 25,354 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Jacobs Solutions by 9.9% in the 3rd quarter. Private Advisor Group LLC now owns 13,447 shares of the company’s stock worth $1,760,000 after acquiring an additional 1,210 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Jacobs Solutions by 12,990.4% in the 3rd quarter. International Assets Investment Management LLC now owns 13,614 shares of the company’s stock valued at $1,782,000 after purchasing an additional 13,510 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Jacobs Solutions by 9.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 7,765 shares of the company’s stock valued at $1,016,000 after purchasing an additional 684 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its stake in Jacobs Solutions by 57.3% in the third quarter. IFM Investors Pty Ltd now owns 22,603 shares of the company’s stock worth $2,959,000 after purchasing an additional 8,230 shares during the period. Institutional investors own 85.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on J. Citigroup lowered their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Robert W. Baird lowered 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. The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Finally, StockNews.com began coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.89.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $129.12 on Monday. The company has a 50 day moving average of $134.83 and a 200 day moving average of $139.95. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a twelve month low of $110.95 and a twelve month high of $150.54. The firm has a market cap of $15.82 billion, a P/E ratio of 26.62, a PEG ratio of 1.84 and a beta of 0.72.

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

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 issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. 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 (DPR) is presently 23.92%.

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