Proficio Capital Partners LLC Increases Position in Jacobs Solutions Inc. (NYSE:J)

Proficio Capital Partners LLC lifted its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,359 shares of the company’s stock after buying an additional 556 shares during the period. Proficio Capital Partners LLC’s holdings in Jacobs Solutions were worth $449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in shares of 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 acquiring an additional 74 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Jacobs Solutions by 10.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company’s stock valued at $128,000 after purchasing an additional 92 shares during the period. Greenleaf Trust lifted its position in Jacobs Solutions by 3.5% in the fourth quarter. Greenleaf Trust now owns 2,773 shares of the company’s stock valued at $371,000 after purchasing an additional 95 shares during the period. Assetmark Inc. boosted its holdings in Jacobs Solutions by 42.7% in the 4th quarter. Assetmark Inc. now owns 334 shares of the company’s stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC increased its position in Jacobs Solutions by 5.5% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 2,024 shares of the company’s stock worth $270,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on J shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Robert W. Baird dropped their target price 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. Citigroup decreased their price target on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. 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. Finally, Truist Financial lifted their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Six investment 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, the company presently has a consensus rating of “Hold” and a consensus target price of $153.63.

Jacobs Solutions Stock Performance

Shares of J stock opened at $122.97 on Tuesday. The firm has a market capitalization of $15.07 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77. The company has a 50 day moving average price of $130.51 and a 200 day moving average price of $136.50. Jacobs Solutions Inc. has a one year low of $118.71 and a one year high of $156.31. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 earnings per share. Sell-side analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were given a $0.32 dividend. The ex-dividend date was Friday, February 21st. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.04%. Jacobs Solutions’s dividend payout ratio (DPR) is 26.39%.

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

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.