Greenwood Capital Associates LLC Raises Position in Jacobs Solutions Inc. (NYSE:J)

Greenwood Capital Associates LLC lifted its stake in Jacobs Solutions Inc. (NYSE:J) by 31.1% in the 1st quarter, HoldingsChannel reports. The firm owned 37,437 shares of the company’s stock after acquiring an additional 8,885 shares during the period. Greenwood Capital Associates LLC’s holdings in Jacobs Solutions were worth $4,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McKinley Carter Wealth Services Inc. boosted its position in shares of Jacobs Solutions by 2.6% in the first quarter. McKinley Carter Wealth Services Inc. now owns 58,559 shares of the company’s stock worth $7,079,000 after purchasing an additional 1,471 shares during the period. CX Institutional lifted its stake in shares of Jacobs Solutions by 11.3% during the 1st quarter. CX Institutional now owns 7,861 shares of the company’s stock valued at $950,000 after buying an additional 799 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Jacobs Solutions by 1,098.2% during the 1st quarter. SG Americas Securities LLC now owns 226,816 shares of the company’s stock valued at $27,420,000 after buying an additional 207,886 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Jacobs Solutions by 90.2% in the 1st quarter. GAMMA Investing LLC now owns 2,282 shares of the company’s stock worth $276,000 after buying an additional 1,082 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in Jacobs Solutions by 104.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 2,827 shares of the company’s stock worth $342,000 after buying an additional 1,447 shares in the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Performance

NYSE:J opened at $126.96 on Thursday. The company has a market cap of $15.25 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 1 year low of $106.23 and a 1 year high of $156.31. The stock’s 50 day simple moving average is $122.70 and its two-hundred day simple moving average is $128.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share 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 for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the business posted $1.91 earnings per share. Jacobs Solutions’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, May 23rd. Jacobs Solutions’s dividend payout ratio is 35.26%.

Analysts Set New Price Targets

Several equities analysts have recently commented on J shares. Citigroup lowered their price objective 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. Truist Financial boosted their price target on Jacobs Solutions from $130.00 to $141.00 and gave the stock a “hold” rating in a report on Monday, May 12th. Royal Bank of Canada upped their price target on Jacobs Solutions from $152.00 to $154.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Finally, UBS Group cut their price objective on shares of Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating for the company in a report on Friday, May 9th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.86.

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.