First Hawaiian Bank Makes New Investment in Jacobs Solutions Inc. (NYSE:J)

Posted by Defense World Staff on Mar 23rd, 2023

First Hawaiian Bank purchased a new position in shares of Jacobs Solutions Inc. (NYSE:J – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,317 shares of the company’s stock, valued at approximately $999,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ceredex Value Advisors LLC bought a new stake in Jacobs Solutions during the 3rd quarter worth approximately $89,086,000. Mackenzie Financial Corp grew its stake in shares of Jacobs Solutions by 1,162.8% during the first quarter. Mackenzie Financial Corp now owns 866,765 shares of the company’s stock valued at $119,449,000 after buying an additional 798,125 shares during the last quarter. Invesco Ltd. grew its stake in shares of Jacobs Solutions by 44.6% in the first quarter. Invesco Ltd. now owns 1,291,182 shares of the company’s stock worth $177,937,000 after purchasing an additional 398,033 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Jacobs Solutions by 16.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,663,666 shares of the company’s stock valued at $288,979,000 after purchasing an additional 383,433 shares during the last quarter. Finally, Capital International Investors raised its holdings in Jacobs Solutions by 8.1% in the 1st quarter. Capital International Investors now owns 4,049,450 shares of the company’s stock worth $558,055,000 after acquiring an additional 304,996 shares during the last quarter. Institutional investors own 85.96% of the company’s stock.

Insider Activity

In other news, insider Steven J. Demetriou sold 6,666 shares of Jacobs Solutions stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $121.94, for a total value of $812,852.04. Following the transaction, the insider now owns 621,288 shares in the company, valued at approximately $75,759,858.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Christopher M.T. Thompson sold 3,500 shares of the stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $119.64, for a total value of $418,740.00. Following the sale, the director now owns 34,682 shares in the company, valued at $4,149,354.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven J. Demetriou sold 6,666 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $121.94, for a total value of $812,852.04. Following the transaction, the insider now directly owns 621,288 shares in the company, valued at $75,759,858.72. The disclosure for this sale can be found here. Insiders sold a total of 23,498 shares of company stock valued at $2,849,564 over the last three months. Insiders own 1.00% of the company’s stock.

Jacobs Solutions Trading Down 1.7 %

Shares of J opened at $112.93 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.55. Jacobs Solutions Inc. has a 1-year low of $106.78 and a 1-year high of $150.32. The business’s 50-day moving average price is $120.91 and its 200 day moving average price is $119.69. The stock has a market capitalization of $14.31 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.49 and a beta of 0.86.

Jacobs Solutions (NYSE:J – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.06. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Jacobs Solutions had a return on equity of 14.84% and a net margin of 4.21%. Jacobs Solutions’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.56 earnings per share. Analysts expect that Jacobs Solutions Inc. will post 7.39 earnings per share for the current year.

Jacobs Solutions announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, February 24th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.92%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, February 23rd. Jacobs Solutions’s dividend payout ratio (DPR) is currently 20.76%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Credit Suisse Group lowered their target price on shares of Jacobs Solutions from $161.00 to $155.00 in a research note on Wednesday, February 8th. Bank of America cut shares of Jacobs Solutions from a “buy” rating to a “neutral” rating and set a $137.00 price target for the company. in a report on Friday, January 13th. Royal Bank of Canada lifted their target price on shares of Jacobs Solutions from $150.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Robert W. Baird raised shares of Jacobs Solutions from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $136.00 to $150.00 in a research note on Friday, January 6th. Finally, StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.80.

Jacobs Solutions Company Profile

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Jacobs Solutions, Inc is a holding company, which engages in the designing and deployment of technology-centric solutions. It operates through the following business segments: Critical Mission Solutions, People and Places Solutions, and PA Consulting. The Critical Mission Solutions segment offer broad sectors, including U.S.

Institutional Ownership by Quarter for Jacobs Solutions (NYSE:J)

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