Lazard Asset Management LLC Raises Holdings in Jacobs Solutions Inc. (NYSE:J)

Lazard Asset Management LLC grew its position in Jacobs Solutions Inc. (NYSE:J) by 933.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,109,035 shares of the company’s stock after purchasing an additional 1,904,988 shares during the period. Lazard Asset Management LLC owned approximately 1.72% of Jacobs Solutions worth $281,808,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of J. Colonial Trust Co SC lifted its holdings in Jacobs Solutions by 10,250.0% during the fourth quarter. Colonial Trust Co SC now owns 207 shares of the company’s stock valued at $28,000 after purchasing an additional 205 shares in the last quarter. Avalon Trust Co acquired a new stake in shares of Jacobs Solutions in the fourth quarter valued at $33,000. Larson Financial Group LLC boosted its holdings in Jacobs Solutions by 71.9% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock valued at $37,000 after purchasing an additional 115 shares during the period. Assetmark Inc. boosted its position in shares of Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company’s stock worth $45,000 after acquiring an additional 100 shares in the last quarter. Finally, Optiver Holding B.V. increased its holdings in shares of Jacobs Solutions by 113.8% in the 4th quarter. Optiver Holding B.V. now owns 357 shares of the company’s stock valued at $48,000 after acquiring an additional 190 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

J has been the topic of several recent analyst reports. Citigroup dropped their price target on shares of Jacobs Solutions from $161.00 to $151.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Truist Financial dropped their price objective on Jacobs Solutions from $141.00 to $130.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. UBS Group decreased their price objective on Jacobs Solutions from $154.00 to $152.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada increased their target price on shares of Jacobs Solutions from $152.00 to $154.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Finally, Robert W. Baird decreased their price target on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Jacobs Solutions has an average rating of “Moderate Buy” and a consensus target price of $149.29.

Jacobs Solutions Stock Down 0.1%

Shares of NYSE J opened at $122.78 on Monday. 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 firm has a 50-day moving average price of $120.47 and a 200 day moving average price of $130.74. Jacobs Solutions Inc. has a 52 week low of $106.23 and a 52 week high of $156.31. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the company earned $1.91 earnings per share. Jacobs Solutions’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions announced that its board has approved a share 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 an indication that the company’s management believes its stock is undervalued.

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, May 23rd. Jacobs Solutions’s payout ratio is 35.26%.

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.