Toronto Dominion Bank Boosts Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Toronto Dominion Bank grew its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 6.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 66,478 shares of the company’s stock after buying an additional 3,757 shares during the period. Toronto Dominion Bank’s holdings in Jacobs Solutions were worth $8,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Colonial Trust Co SC lifted its stake in Jacobs Solutions by 10,250.0% in the 4th quarter. Colonial Trust Co SC now owns 207 shares of the company’s stock valued at $28,000 after buying an additional 205 shares in the last quarter. Avalon Trust Co acquired a new stake in shares of Jacobs Solutions during the fourth quarter valued at $33,000. Larson Financial Group LLC boosted its stake in shares of Jacobs Solutions by 71.9% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock valued at $37,000 after acquiring an additional 115 shares during the last quarter. Assetmark Inc. increased its position in Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Finally, Optiver Holding B.V. raised its stake in Jacobs Solutions by 113.8% in the 4th quarter. Optiver Holding B.V. now owns 357 shares of the company’s stock valued at $48,000 after purchasing an additional 190 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Jacobs Solutions from $152.00 to $154.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. UBS Group reduced their price target on Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Citigroup reduced their target price on Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Robert W. Baird dropped their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Finally, Truist Financial increased their price objective on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a “hold” rating in a report on Monday, May 12th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.86.

Jacobs Solutions Stock Down 0.6%

Shares of NYSE:J opened at $128.07 on Wednesday. Jacobs Solutions Inc. has a 1 year low of $106.23 and a 1 year high of $156.31. The stock has a 50-day simple moving average of $121.20 and a 200-day simple moving average of $130.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $15.39 billion, a P/E ratio of 26.41, a PEG ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $3 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 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.91 EPS. Equities analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, May 23rd. Jacobs Solutions’s payout ratio is 35.26%.

Jacobs Solutions declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board 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.