Proficio Capital Partners LLC Acquires 446,057 Shares of Jacobs Solutions Inc. (NYSE:J)

Proficio Capital Partners LLC boosted its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 15,913.6% during the 4th quarter, Holdings Channel reports. The fund owned 448,860 shares of the company’s stock after buying an additional 446,057 shares during the period. Proficio Capital Partners LLC’s holdings in Jacobs Solutions were worth $59,977,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its holdings in shares of Jacobs Solutions by 44.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Empirical Finance LLC boosted its holdings in shares of Jacobs Solutions by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 4,358 shares of the company’s stock valued at $570,000 after buying an additional 82 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Jacobs Solutions by 4.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock valued at $293,000 after buying an additional 86 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Jacobs Solutions by 10.6% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company’s stock valued at $128,000 after buying an additional 92 shares in the last quarter. Finally, Greenleaf Trust boosted its holdings in shares of Jacobs Solutions by 3.5% in the 4th quarter. Greenleaf Trust now owns 2,773 shares of the company’s stock valued at $371,000 after buying an additional 95 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on J shares. StockNews.com started coverage on shares of Jacobs Solutions in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Truist Financial raised their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Robert W. Baird decreased their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, Citigroup decreased 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. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.89.

Jacobs Solutions Stock Performance

J opened at $126.46 on Friday. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54. 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 firm has a market capitalization of $15.50 billion, a PE ratio of 26.07, a P/E/G ratio of 1.84 and a beta of 0.72. The firm has a 50 day moving average of $134.23 and a two-hundred day moving average of $139.56.

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

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 1.01%. Jacobs Solutions’s dividend payout ratio (DPR) is currently 26.39%.

Jacobs Solutions announced that its Board of Directors has approved a share repurchase program on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.