Investment Management Corp of Ontario Increases Position in Jacobs Solutions Inc. (NYSE:J)

Investment Management Corp of Ontario grew its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 5.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,056 shares of the company’s stock after purchasing an additional 1,300 shares during the period. Investment Management Corp of Ontario’s holdings in Jacobs Solutions were worth $3,542,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in Jacobs Solutions during the 2nd quarter valued at about $26,000. Bruce G. Allen Investments LLC lifted its stake in shares of Jacobs Solutions by 427.5% in the second quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after buying an additional 171 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after buying an additional 74 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Jacobs Solutions during the third quarter valued at approximately $42,000. Finally, True Wealth Design LLC purchased a new position in Jacobs Solutions in the 3rd quarter worth approximately $44,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

J has been the topic of several recent analyst reports. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Citigroup reduced their price objective on Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating for the company in a report on Wednesday, November 20th. Truist Financial lowered their target price on shares of Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. UBS Group raised their price target on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Wednesday. They set a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Jacobs Solutions Trading Down 1.3 %

Shares of J opened at $138.00 on Wednesday. The stock has a market capitalization of $17.11 billion, a PE ratio of 21.80, a P/E/G ratio of 2.11 and a beta of 0.70. The company’s fifty day moving average is $141.10 and its 200 day moving average is $142.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.20 and a current ratio of 1.20. Jacobs Solutions Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $150.54.

Jacobs Solutions (NYSE:J) last released its quarterly earnings results on Tuesday, November 19th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.71). Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter in the prior year, the business posted $1.90 EPS. The company’s revenue was up 4.4% on a year-over-year basis. Sell-side analysts expect that Jacobs Solutions Inc. will post 6.06 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, October 25th. This represents a $1.16 annualized dividend and a yield of 0.84%. Jacobs Solutions’s payout ratio is presently 18.33%.

Jacobs Solutions Company 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.