Elo Mutual Pension Insurance Co Makes New $2.20 Million Investment in Jacobs Solutions Inc. (NYSE:J)

Elo Mutual Pension Insurance Co bought a new position in shares of Jacobs Solutions Inc. (NYSE:J) during the fourth quarter, Holdings Channel.com reports. The fund bought 16,469 shares of the company’s stock, valued at approximately $2,201,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avalon Trust Co acquired a new stake in Jacobs Solutions during the 4th quarter worth $33,000. Larson Financial Group LLC raised its holdings in shares of Jacobs Solutions by 71.9% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock valued at $37,000 after buying an additional 115 shares during the last quarter. Quarry LP boosted its stake in shares of Jacobs Solutions by 394.9% during the third quarter. Quarry LP now owns 292 shares of the company’s stock worth $38,000 after buying an additional 233 shares during the period. True Wealth Design LLC purchased a new position in shares of Jacobs Solutions during the third quarter worth about $44,000. Finally, Assetmark Inc. increased its position in Jacobs Solutions by 42.7% in the 4th quarter. Assetmark Inc. now owns 334 shares of the company’s stock valued at $45,000 after acquiring an additional 100 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on J. Citigroup decreased 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 objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. StockNews.com began coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Truist Financial lifted their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $153.63.

Jacobs Solutions Stock Down 1.8 %

J stock opened at $121.25 on Friday. Jacobs Solutions Inc. has a 52 week low of $118.71 and a 52 week high of $156.31. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The company has a market cap of $14.86 billion, a P/E ratio of 25.00, a P/E/G ratio of 1.84 and a beta of 0.77. The company’s 50-day moving average price is $129.38 and its 200 day moving average price is $135.98.

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

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio (DPR) 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 shares. This buyback authorization allows the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management 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.