Wingate Wealth Advisors Inc. Purchases Shares of 489 Jacobs Solutions Inc. (NYSE:J)

Wingate Wealth Advisors Inc. purchased a new stake in Jacobs Solutions Inc. (NYSE:J) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 489 shares of the company’s stock, valued at approximately $65,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Savant Capital LLC boosted its stake in shares of Jacobs Solutions by 4.5% during the 4th quarter. Savant Capital LLC now owns 15,973 shares of the company’s stock worth $2,134,000 after acquiring an additional 693 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of Jacobs Solutions by 8.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,944 shares of the company’s stock worth $527,000 after acquiring an additional 294 shares during the period. Vest Financial LLC boosted its stake in shares of Jacobs Solutions by 78.8% during the 4th quarter. Vest Financial LLC now owns 18,088 shares of the company’s stock worth $2,417,000 after acquiring an additional 7,973 shares during the period. BayBridge Capital Group LLC boosted its stake in shares of Jacobs Solutions by 9.7% during the 4th quarter. BayBridge Capital Group LLC now owns 8,173 shares of the company’s stock worth $1,092,000 after acquiring an additional 722 shares during the period. Finally, Cidel Asset Management Inc. boosted its stake in shares of Jacobs Solutions by 20.1% during the 4th quarter. Cidel Asset Management Inc. now owns 273,159 shares of the company’s stock worth $36,500,000 after acquiring an additional 45,666 shares during the period. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $134.54 on Tuesday. The stock has a market capitalization of $16.49 billion, a PE ratio of 27.74, a P/E/G ratio of 1.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.20. The business has a fifty day moving average price of $136.17 and a two-hundred day moving average price of $140.88. 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 announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.93 billion during 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 company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 EPS. As a group, equities analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

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

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, February 21st will be paid a $0.32 dividend. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. This represents a $1.28 annualized dividend and a dividend yield of 0.95%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 26.39%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on J. Benchmark downgraded Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Robert W. Baird reduced their target price 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. Citigroup dropped their price target on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial lifted their price target on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, StockNews.com began coverage on Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating for the company. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $155.89.

Jacobs Solutions Company 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.