Brokerages Set Jacobs Solutions Inc. (NYSE:J) PT at $150.86

Jacobs Solutions Inc. (NYSE:J) has been assigned an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $150.86.

Several brokerages have issued reports on J. Robert W. Baird cut their price target on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Truist Financial dropped their target price on Jacobs Solutions from $141.00 to $130.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Finally, Citigroup dropped their target price on Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating on the stock in a report on Friday.

Jacobs Solutions Stock Up 0.8 %

Shares of NYSE:J opened at $122.54 on Friday. The business’s 50 day simple moving average is $121.14 and its two-hundred day simple moving average is $131.89. The firm has a market cap of $15.02 billion, a P/E ratio of 25.27, a PEG ratio of 1.84 and a beta of 0.73. 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 has a 52-week low of $106.23 and a 52-week high of $156.31.

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, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.45 earnings per share. As a group, research analysts forecast that Jacobs Solutions will post 6.05 EPS for the current fiscal year.

Jacobs Solutions announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to purchase up to 9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were given a $0.32 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.04%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is currently 26.39%.

Hedge Funds Weigh In On Jacobs Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in J. Kovitz Investment Group Partners LLC grew its position in Jacobs Solutions by 345.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,637,596 shares of the company’s stock valued at $619,676,000 after buying an additional 3,597,564 shares during the period. Geode Capital Management LLC grew 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 buying an additional 10,174 shares during the period. Lazard Asset Management LLC grew its position in Jacobs Solutions by 933.6% during the fourth quarter. Lazard Asset Management LLC now owns 2,109,035 shares of the company’s stock valued at $281,808,000 after buying an additional 1,904,988 shares during the period. Ninety One UK Ltd boosted its position in Jacobs Solutions by 29.2% during the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock worth $265,649,000 after purchasing an additional 449,161 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Jacobs Solutions by 9.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,809,207 shares of the company’s stock worth $241,746,000 after purchasing an additional 157,086 shares during the period. 85.65% of the stock is 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.