NEOS Investment Management LLC Purchases 1,241 Shares of Jacobs Solutions Inc. (NYSE:J)

NEOS Investment Management LLC grew its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 27.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,747 shares of the company’s stock after buying an additional 1,241 shares during the quarter. NEOS Investment Management LLC’s holdings in Jacobs Solutions were worth $768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its holdings in Jacobs Solutions by 0.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 81,302 shares of the company’s stock valued at $10,642,000 after buying an additional 266 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Jacobs Solutions by 53.0% during the third quarter. D.A. Davidson & CO. now owns 6,833 shares of the company’s stock worth $895,000 after acquiring an additional 2,366 shares during the period. FMR LLC raised its stake in shares of Jacobs Solutions by 3.9% during the third quarter. FMR LLC now owns 79,358 shares of the company’s stock valued at $10,388,000 after acquiring an additional 3,011 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Jacobs Solutions by 58.5% in the third quarter. Glenmede Trust Co. NA now owns 6,261 shares of the company’s stock valued at $820,000 after purchasing an additional 2,312 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in Jacobs Solutions by 412.3% in the third quarter. Public Sector Pension Investment Board now owns 24,105 shares of the company’s stock worth $3,155,000 after purchasing an additional 19,400 shares in the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 10th. Truist Financial increased 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. Robert W. Baird cut their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Citigroup dropped their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com started coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $153.63.

Jacobs Solutions Stock Performance

Shares of J stock opened at $121.25 on Monday. Jacobs Solutions Inc. has a 12-month low of $118.71 and a 12-month high of $156.31. The business’s fifty day simple moving average is $129.38 and its 200-day simple moving average is $135.94. 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 company has a market cap of $14.86 billion, a PE ratio of 25.00, a PEG ratio of 1.84 and a beta of 0.77.

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 company had revenue of $2.93 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.45 EPS. Analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

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

Jacobs Solutions declared that its board has initiated a stock repurchase plan on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are 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.