Sandy Spring Bank Increases Holdings in Jacobs Solutions Inc. (NYSE:J)

Sandy Spring Bank raised its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 18.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,646 shares of the company’s stock after buying an additional 1,790 shares during the period. Sandy Spring Bank’s holdings in Jacobs Solutions were worth $1,556,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC grew its position in shares of Jacobs Solutions by 4.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock valued at $293,000 after acquiring an additional 86 shares during the period. Mutual of America Capital Management LLC grew its position in shares of Jacobs Solutions by 7.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 40,956 shares of the company’s stock valued at $5,361,000 after acquiring an additional 2,675 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Jacobs Solutions during the 3rd quarter valued at $1,575,000. PNC Financial Services Group Inc. grew its position in shares of Jacobs Solutions by 16.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 43,343 shares of the company’s stock valued at $5,674,000 after acquiring an additional 6,201 shares during the period. Finally, Commerce Bank grew its position in shares of Jacobs Solutions by 2.6% during the 3rd quarter. Commerce Bank now owns 6,623 shares of the company’s stock valued at $867,000 after acquiring an additional 165 shares during the period. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Down 2.0 %

Shares of NYSE J opened at $121.75 on Friday. The firm’s 50-day moving average price is $130.96 and its 200-day moving average price is $137.00. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $14.92 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 12-month low of $118.71 and a 12-month high of $156.31.

Jacobs Solutions (NYSE:J) last announced its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 EPS. On average, equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be paid a $0.32 dividend. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, February 21st. Jacobs Solutions’s dividend payout ratio is currently 26.39%.

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

Analyst Ratings Changes

J has been the subject of a number of recent research reports. Citigroup cut their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial upped their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 10th. Robert W. Baird dropped their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Finally, StockNews.com assumed coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $153.63.

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.