Needham Investment Management LLC Makes New $1.31 Million Investment in Jacobs Solutions Inc. (NYSE:J)

Needham Investment Management LLC purchased a new stake in shares of Jacobs Solutions Inc. (NYSE:J) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $1,309,000.

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

Jacobs Solutions Stock Down 1.3 %

Jacobs Solutions stock opened at $138.00 on Wednesday. Jacobs Solutions Inc. has a 12 month low of $104.90 and a 12 month high of $150.54. The stock has a market capitalization of $17.11 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 1.20. The business has a 50 day simple moving average of $141.10 and a 200-day simple moving average of $142.42.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, November 19th. The company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.71). The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $4.50 billion. Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.90 earnings per share. On average, analysts anticipate that Jacobs Solutions Inc. will post 6.06 EPS 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 paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Friday, October 25th. Jacobs Solutions’s dividend payout ratio is presently 18.33%.

Analyst Ratings Changes

Several research analysts recently issued reports on J shares. UBS Group boosted their target price on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Benchmark lowered Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. StockNews.com assumed coverage on Jacobs Solutions in a research note on Wednesday. They issued a “hold” rating on the stock. Citigroup reduced their price target on Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $152.00 price target on shares of Jacobs Solutions in a report on Tuesday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.50.

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.