Trexquant Investment LP Takes $23.92 Million Position in Jacobs Solutions Inc. (NYSE:J)

Trexquant Investment LP bought a new position in shares of Jacobs Solutions Inc. (NYSE:J) during the 4th quarter, HoldingsChannel reports. The fund bought 178,984 shares of the company’s stock, valued at approximately $23,916,000.

A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in Jacobs Solutions by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 3,155,839 shares of the company’s stock valued at $420,626,000 after purchasing an additional 10,174 shares in the last quarter. Ninety One UK Ltd increased its stake in shares of Jacobs Solutions by 29.2% in the 4th quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock valued at $265,649,000 after purchasing an additional 449,161 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Jacobs Solutions by 3.2% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock worth $143,263,000 after buying an additional 32,650 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Jacobs Solutions by 9.6% during the 4th quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock worth $119,724,000 after buying an additional 78,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Jacobs Solutions by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 777,888 shares of the company’s stock valued at $103,941,000 after buying an additional 17,372 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Citigroup lowered 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Truist Financial increased their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. StockNews.com started coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $153.63.

Jacobs Solutions Price Performance

Shares of NYSE:J opened at $121.04 on Tuesday. The firm has a market cap of $14.83 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. Jacobs Solutions Inc. has a 52 week low of $118.67 and a 52 week high of $156.31. The firm’s fifty day moving average is $129.02 and its 200-day moving average is $135.79.

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

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were given a dividend of $0.32 per share. The ex-dividend date was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.06%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio is 26.39%.

Jacobs Solutions announced that its board has approved a stock repurchase program on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors 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.