Jacobs Solutions Inc. (J) to Issue Quarterly Dividend of $0.32 on June 20th

Jacobs Solutions Inc. (NYSE:J) declared a quarterly dividend on Wednesday, April 30th, RTT News reports. Investors of record on Friday, May 23rd will be paid a dividend of 0.32 per share on Friday, June 20th. This represents a $1.28 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, May 23rd.

Jacobs Solutions has increased its dividend by an average of 11.4% per year over the last three years and has raised its dividend every year for the last 4 years. Jacobs Solutions has a dividend payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Jacobs Solutions to earn $6.86 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 18.7%.

Jacobs Solutions Stock Down 0.6%

Shares of Jacobs Solutions stock opened at $128.07 on Wednesday. Jacobs Solutions has a 52-week low of $106.23 and a 52-week high of $156.31. The company has a 50 day moving average of $121.20 and a 200 day moving average of $130.17. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $15.39 billion, a P/E ratio of 26.41, a P/E/G ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the previous year, the firm earned $1.91 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, research analysts forecast that Jacobs Solutions will post 6.05 EPS for the current fiscal year.

Institutional Trading of Jacobs Solutions

An institutional investor recently raised its position in Jacobs Solutions stock. Empowered Funds LLC raised its position in Jacobs Solutions Inc. (NYSE:J) by 92.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,720 shares of the company’s stock after buying an additional 3,226 shares during the quarter. Empowered Funds LLC’s holdings in Jacobs Solutions were worth $812,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 85.65% of the company’s stock.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Truist Financial boosted their price objective on shares of Jacobs Solutions from $130.00 to $141.00 and gave the stock a “hold” rating in a research report on Monday, May 12th. UBS Group reduced their price objective on shares of Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Robert W. Baird reduced 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, Royal Bank of Canada boosted their price objective on shares of Jacobs Solutions from $152.00 to $154.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Jacobs Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $150.86.

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.