Investment Management Corp of Ontario Has $2.50 Million Stake in Jacobs Solutions Inc. (NYSE:J)

Investment Management Corp of Ontario decreased its position in Jacobs Solutions Inc. (NYSE:J) by 30.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,743 shares of the company’s stock after selling 8,313 shares during the quarter. Investment Management Corp of Ontario’s holdings in Jacobs Solutions were worth $2,504,000 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 company. Humankind Investments LLC increased its position in shares of Jacobs Solutions by 10.0% in the fourth quarter. Humankind Investments LLC now owns 3,332 shares of the company’s stock valued at $445,000 after acquiring an additional 303 shares during the last quarter. Gotham Asset Management LLC boosted its holdings in shares of Jacobs Solutions by 12.7% during the fourth quarter. Gotham Asset Management LLC now owns 135,644 shares of the company’s stock worth $18,125,000 after acquiring an additional 15,249 shares during the period. Focus Partners Wealth boosted its holdings in shares of Jacobs Solutions by 5.7% during the fourth quarter. Focus Partners Wealth now owns 294,602 shares of the company’s stock worth $39,365,000 after acquiring an additional 15,900 shares during the period. Ethic Inc. boosted its holdings in shares of Jacobs Solutions by 74.0% during the fourth quarter. Ethic Inc. now owns 3,485 shares of the company’s stock worth $466,000 after acquiring an additional 1,482 shares during the period. Finally, Ensign Peak Advisors Inc boosted its holdings in shares of Jacobs Solutions by 21.5% during the fourth quarter. Ensign Peak Advisors Inc now owns 53,086 shares of the company’s stock worth $7,093,000 after acquiring an additional 9,397 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on J. Citigroup cut their price target on Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating for the company in a research note on Friday, April 25th. UBS Group lowered their price target on shares of Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird decreased their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada upped their price target on shares of Jacobs Solutions from $152.00 to $154.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Finally, Truist Financial cut their price objective on shares of Jacobs Solutions from $141.00 to $130.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.29.

Jacobs Solutions Trading Down 0.1%

Shares of J stock opened at $122.78 on Monday. The company has a 50 day moving average of $120.47 and a 200-day moving average of $130.74. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a 12-month low of $106.23 and a 12-month high of $156.31. The firm has a market cap of $15.05 billion, a P/E ratio of 25.32, a PEG ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the business posted $1.91 EPS. Jacobs Solutions’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.28 annualized dividend and a dividend yield of 1.04%. Jacobs Solutions’s payout ratio is currently 35.26%.

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