Choreo LLC Purchases 1,247 Shares of Jacobs Solutions Inc. (NYSE:J)

Choreo LLC raised its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 50.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,700 shares of the company’s stock after purchasing an additional 1,247 shares during the period. Choreo LLC’s holdings in Jacobs Solutions were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of J. First Horizon Advisors Inc. lifted its stake in Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after buying an additional 74 shares during the period. Quarry LP raised its position in shares of Jacobs Solutions by 394.9% in the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after acquiring an additional 233 shares during the period. Capital Performance Advisors LLP bought a new position in Jacobs Solutions during the 3rd quarter worth approximately $42,000. True Wealth Design LLC acquired a new position in Jacobs Solutions during the third quarter valued at approximately $44,000. Finally, GAMMA Investing LLC increased its stake in Jacobs Solutions by 55.8% in the third quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock valued at $53,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on J. Benchmark lowered Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Robert W. Baird reduced their price target on shares of 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 restated an “outperform” rating and set a $152.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, Truist Financial raised their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.89.

Jacobs Solutions Stock Performance

Shares of NYSE:J opened at $133.21 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54. The company’s 50 day moving average price is $136.06 and its two-hundred day moving average price is $140.80. The firm has a market cap of $16.32 billion, a PE ratio of 27.47, a PEG ratio of 1.88 and a beta of 0.72.

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

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 issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is 23.92%.

Jacobs Solutions announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

About Jacobs Solutions

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.