Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Jacobs Solutions Inc. (NYSE:J)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 3.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 195,219 shares of the company’s stock after acquiring an additional 7,244 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Jacobs Solutions worth $26,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of J. Heritage Family Offices LLP raised its stake in shares of Jacobs Solutions by 55.7% during the fourth 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 during the last quarter. Stratos Wealth Partners LTD. raised its position in Jacobs Solutions by 1.8% during the 4th 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 last quarter. Occidental Asset Management LLC lifted its holdings in Jacobs Solutions by 11.7% in the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock worth $3,347,000 after buying an additional 2,619 shares during the period. JPMorgan Chase & Co. grew its position in shares of Jacobs Solutions by 12.2% in 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 last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Jacobs Solutions during the third quarter valued at approximately $3,205,000. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Stock Performance

Shares of J stock opened at $121.25 on Monday. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. Jacobs Solutions Inc. has a one year low of $118.71 and a one year high of $156.31. The company’s 50-day moving average is $129.38 and its 200 day moving average is $135.94.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the business posted $1.45 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions announced that its Board of Directors has initiated a stock 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 buy up to 9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Jacobs Solutions Increases Dividend

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

Wall Street Analysts Forecast Growth

J has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Citigroup reduced their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Robert W. Baird lowered their price objective 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. The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 10th. Finally, Truist Financial raised their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Jacobs Solutions currently has an average rating of “Hold” and a consensus price target of $153.63.

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.