Redmond Asset Management LLC Buys New Stake in Jacobs Solutions Inc. (NYSE:J)

Redmond Asset Management LLC purchased a new position in Jacobs Solutions Inc. (NYSE:J) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,301 shares of the company’s stock, valued at approximately $307,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in J. Ninety One UK Ltd raised its holdings in shares of Jacobs Solutions by 29.2% in the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock worth $265,649,000 after buying an additional 449,161 shares during the last quarter. Sessa Capital IM L.P. acquired a new stake in shares of Jacobs Solutions in the third quarter worth $46,168,000. Soros Fund Management LLC increased its stake in shares of Jacobs Solutions by 34.3% in the third quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock worth $65,569,000 after acquiring an additional 127,874 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Jacobs Solutions by 28.1% in the third quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock worth $70,296,000 after acquiring an additional 117,940 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Jacobs Solutions by 19.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company’s stock worth $85,099,000 after acquiring an additional 107,849 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Down 0.8 %

J stock opened at $129.12 on Friday. The firm has a market cap of $15.82 billion, a PE ratio of 26.62, a P/E/G ratio of 1.84 and a beta of 0.72. 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 firm’s fifty day moving average is $134.83 and its 200 day moving average is $139.95. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. On average, research analysts forecast 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 will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.99%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s dividend payout ratio (DPR) is presently 23.92%.

Jacobs Solutions declared that its board has initiated a stock buyback plan on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently weighed in on J shares. Robert W. Baird cut their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Citigroup cut their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, StockNews.com started coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Jacobs Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $155.89.

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.