West Tower Group LLC Increases Stake in Jacobs Solutions Inc. (NYSE:J)

West Tower Group LLC lifted its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 133.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,000 shares of the company’s stock after acquiring an additional 4,000 shares during the period. Jacobs Solutions accounts for about 2.1% of West Tower Group LLC’s investment portfolio, making the stock its 12th largest position. West Tower Group LLC’s holdings in Jacobs Solutions were worth $935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Heritage Family Offices LLP lifted its holdings in shares of Jacobs Solutions by 55.7% during the 4th quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock worth $1,993,000 after acquiring an additional 5,332 shares during the period. Stratos Wealth Partners LTD. raised its holdings in 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 buying an additional 175 shares during the period. Occidental Asset Management LLC raised its holdings in 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 buying an additional 2,619 shares during the period. JPMorgan Chase & Co. raised its holdings in Jacobs Solutions by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock valued at $56,778,000 after buying an additional 47,211 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Jacobs Solutions in the third quarter valued at approximately $3,205,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

J has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and issued a $152.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Citigroup cut their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Truist Financial lifted their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Jacobs Solutions has an average rating of “Hold” and a consensus price target of $153.63.

Jacobs Solutions Stock Down 0.1 %

J stock opened at $122.65 on Wednesday. Jacobs Solutions Inc. has a twelve month low of $118.71 and a twelve month high of $156.31. 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 capitalization of $15.03 billion, a P/E ratio of 25.29, a PEG ratio of 1.84 and a beta of 0.77. The firm has a 50 day simple moving average of $131.36 and a 200-day simple moving average of $137.19.

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

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is currently 26.39%.

Jacobs Solutions declared that its board has approved a share repurchase program on Tuesday, February 4th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.