Jacobs Solutions (NYSE:J) Hits New 12-Month High After Better-Than-Expected Earnings

Jacobs Solutions Inc. (NYSE:JGet Free Report)’s share price hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $143.93 and last traded at $139.19, with a volume of 209144 shares changing hands. The stock had previously closed at $137.00.

The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.56 by $0.46. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the business posted $1.67 earnings per share. Jacobs Solutions’s quarterly revenue was up 10.6% compared to the same quarter last year.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, February 23rd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.16 annualized dividend and a dividend yield of 0.81%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.26. Jacobs Solutions’s dividend payout ratio (DPR) is 18.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Raymond James downgraded shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 22nd. KeyCorp assumed coverage on shares of Jacobs Solutions in a research report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price on shares of Jacobs Solutions in a research report on Wednesday, November 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, November 21st. Finally, Royal Bank of Canada lifted their target price on shares of Jacobs Solutions from $151.00 to $161.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.11.

Check Out Our Latest Stock Analysis on Jacobs Solutions

Insider Activity at Jacobs Solutions

In other Jacobs Solutions news, insider Steven J. Demetriou sold 6,666 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $136.62, for a total value of $910,708.92. Following the transaction, the insider now directly owns 556,439 shares in the company, valued at approximately $76,020,696.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Steven J. Demetriou sold 6,666 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $136.62, for a total value of $910,708.92. Following the completion of the sale, the insider now owns 556,439 shares of the company’s stock, valued at approximately $76,020,696.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick Hill sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $127.48, for a total transaction of $701,140.00. Following the completion of the sale, the executive vice president now directly owns 62,719 shares of the company’s stock, valued at approximately $7,995,418.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,832 shares of company stock worth $3,112,190. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Jacobs Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Jacobs Solutions by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 13,998,808 shares of the company’s stock valued at $1,929,175,000 after purchasing an additional 250,587 shares in the last quarter. BlackRock Inc. increased its stake in shares of Jacobs Solutions by 1.1% in the second quarter. BlackRock Inc. now owns 7,809,642 shares of the company’s stock worth $928,488,000 after acquiring an additional 85,152 shares during the period. Capital World Investors increased its stake in shares of Jacobs Solutions by 0.5% in the second quarter. Capital World Investors now owns 6,322,072 shares of the company’s stock worth $751,631,000 after acquiring an additional 30,360 shares during the period. Select Equity Group L.P. grew its position in Jacobs Solutions by 12.6% during the first quarter. Select Equity Group L.P. now owns 4,717,432 shares of the company’s stock valued at $554,345,000 after buying an additional 529,557 shares during the period. Finally, Capital International Investors grew its position in Jacobs Solutions by 8.1% during the first quarter. Capital International Investors now owns 4,049,450 shares of the company’s stock valued at $558,055,000 after buying an additional 304,996 shares during the period. Hedge funds and other institutional investors own 84.77% of the company’s stock.

Jacobs Solutions Trading Up 2.6 %

The company has a market cap of $18.14 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.49 and a beta of 0.73. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average is $131.20 and its 200 day moving average is $132.20.

Jacobs Solutions Company Profile

(Get Free Report)

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.

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