Jacobs Solutions (NYSE:J) Reaches New 52-Week Low – What’s Next?

Jacobs Solutions Inc. (NYSE:J)’s share price hit a new 52-week low on Monday . The stock traded as low as $118.67 and last traded at $120.43, with a volume of 29470 shares trading hands. The stock had previously closed at $121.22.

Analysts Set New Price Targets

J has been the subject of several research reports. Truist Financial raised their target price on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Citigroup reduced their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $152.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Robert W. Baird reduced 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. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $153.63.

Jacobs Solutions Stock Performance

The firm’s 50-day simple moving average is $128.63 and its two-hundred day simple moving average is $135.63. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $14.95 billion, a PE ratio of 25.16, a PEG ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm 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 business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $1.45 EPS. On average, equities research analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were given a $0.32 dividend. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.05%. Jacobs Solutions’s dividend payout ratio is presently 26.39%.

Jacobs Solutions declared that its board has approved 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 purchase up to 9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Jacobs Solutions

A number of hedge funds have recently modified their holdings of J. Heritage Family Offices LLP raised its position in Jacobs Solutions by 55.7% during the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock valued at $1,993,000 after acquiring an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Jacobs Solutions by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock valued at $1,305,000 after purchasing an additional 175 shares in the last quarter. Occidental Asset Management LLC raised its holdings in shares of Jacobs Solutions by 11.7% during the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after purchasing an additional 2,619 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Jacobs Solutions by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock valued at $56,778,000 after purchasing an additional 47,211 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Jacobs Solutions in the third quarter worth $3,205,000. 85.65% of the stock is owned by institutional investors and hedge funds.

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.