Jacobs Solutions Inc. (NYSE:J) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its stake in Jacobs Solutions Inc. (NYSE:J) by 26.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 82,930 shares of the company’s stock after acquiring an additional 17,266 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Jacobs Solutions worth $11,081,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Heritage Family Offices LLP grew its position in Jacobs Solutions by 55.7% in the 4th quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock valued at $1,993,000 after acquiring an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of Jacobs Solutions by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock valued at $1,305,000 after purchasing an additional 175 shares during the period. Occidental Asset Management LLC grew its holdings in shares of Jacobs Solutions by 11.7% in the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after purchasing an additional 2,619 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Jacobs Solutions by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock worth $56,778,000 after buying an additional 47,211 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Jacobs Solutions during the 3rd quarter worth approximately $3,205,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. StockNews.com began coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Truist Financial increased their price target on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Citigroup lowered their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $153.63.

Jacobs Solutions Stock Down 1.8 %

Shares of NYSE:J opened at $121.25 on Friday. 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 firm has a 50 day simple moving average of $129.38 and a 200-day simple moving average of $135.98. The company has a market capitalization of $14.86 billion, a PE ratio of 25.00, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a twelve month low of $118.71 and a twelve month high of $156.31.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data 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 company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. Jacobs Solutions’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 earnings per share. On average, equities analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were given a dividend of $0.32 per share. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.06%. Jacobs Solutions’s payout ratio is 26.39%.

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

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.