Camden National Bank Lowers Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Camden National Bank lessened its holdings in Jacobs Solutions Inc. (NYSE:J) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,605 shares of the company’s stock after selling 91 shares during the period. Camden National Bank’s holdings in Jacobs Solutions were worth $214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. lifted 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 worth $32,000 after acquiring an additional 74 shares during the last quarter. Quarry LP boosted its holdings in Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after acquiring an additional 233 shares during the period. Capital Performance Advisors LLP bought a new position in Jacobs Solutions in the 3rd quarter valued at $42,000. True Wealth Design LLC purchased a new stake in Jacobs Solutions in the third quarter worth $44,000. Finally, Assetmark Inc. lifted its position in shares of Jacobs Solutions by 42.7% during the fourth quarter. Assetmark Inc. now owns 334 shares of the company’s stock worth $45,000 after purchasing an additional 100 shares during the last quarter. 85.65% of the stock is owned by institutional investors.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $124.62 on Friday. Jacobs Solutions Inc. has a 52 week low of $110.95 and a 52 week high of $150.54. The business’s 50 day moving average price is $132.92 and its 200 day moving average price is $138.62. 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 market cap of $15.27 billion, a P/E ratio of 25.69, a P/E/G ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the firm earned $1.45 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

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

Jacobs Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders 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 boost from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.03%. Jacobs Solutions’s dividend payout ratio (DPR) is 26.39%.

Analyst Ratings Changes

A number of equities analysts have commented on J shares. Citigroup dropped their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird reduced their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Truist Financial raised their price target on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.89.

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.