Ingalls & Snyder LLC Invests $200,000 in Jacobs Solutions Inc. (NYSE:J)

Ingalls & Snyder LLC bought a new position in shares of Jacobs Solutions Inc. (NYSE:J) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,499 shares of the company’s stock, valued at approximately $200,000.

Other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. grew its holdings in Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Quarry LP grew its holdings in 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 in the last quarter. Capital Performance Advisors LLP bought a new stake in Jacobs Solutions during the third quarter worth $42,000. True Wealth Design LLC bought a new stake in Jacobs Solutions during the third quarter worth $44,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Jacobs Solutions during the fourth quarter worth $65,000. 85.65% of the stock is owned by institutional investors and hedge funds.

Jacobs Solutions Stock Down 1.2 %

J stock opened at $128.81 on Friday. The stock has a fifty day moving average of $135.65 and a 200-day moving average of $140.57. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.20 and a current ratio of 1.25. Jacobs Solutions Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $150.54.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 EPS. As a group, equities research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions declared that its board has initiated a stock repurchase program on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.99%. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio (DPR) is presently 23.92%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Truist Financial upped their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Citigroup reduced their price objective 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. Robert W. Baird reduced their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.89.

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.