Redmond Asset Management LLC Invests $307,000 in Jacobs Solutions Inc. (NYSE:J)

Redmond Asset Management LLC purchased a new position in Jacobs Solutions Inc. (NYSE:J) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,301 shares of the company’s stock, valued at approximately $307,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its stake in shares of Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Quarry LP lifted its stake in shares of Jacobs Solutions by 394.9% in the third quarter. Quarry LP now owns 292 shares of the company’s stock worth $38,000 after buying an additional 233 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Jacobs Solutions during the third quarter worth about $42,000. True Wealth Design LLC purchased a new position in Jacobs Solutions during the third quarter worth about $44,000. Finally, Catalyst Capital Advisors LLC raised its stake in Jacobs Solutions by 215.7% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company’s stock worth $49,000 after purchasing an additional 248 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Price Performance

Shares of J opened at $129.12 on Friday. Jacobs Solutions Inc. has a 1-year low of $110.95 and a 1-year high of $150.54. The stock has a market cap of $15.82 billion, a PE ratio of 26.62, a P/E/G ratio of 1.84 and a beta of 0.72. The firm has a 50-day simple moving average of $134.83 and a two-hundred day simple moving average of $139.95. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.45 earnings per share. As a group, analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be issued a $0.32 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is 23.92%.

Jacobs Solutions declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Robert W. Baird reduced their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, Citigroup reduced 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.89.

Jacobs Solutions 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.