Versor Investments LP Has $491,000 Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Posted by Defense World Staff on Apr 14th, 2023

Versor Investments LP lifted its holdings in shares of Jacobs Solutions Inc. (NYSE:J – Get Rating) by 21.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,092 shares of the company’s stock after buying an additional 724 shares during the period. Versor Investments LP’s holdings in Jacobs Solutions were worth $491,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Jacobs Solutions during the third quarter worth approximately $26,000. Private Trust Co. NA acquired a new stake in Jacobs Solutions in the fourth quarter valued at approximately $33,000. Asset Dedication LLC acquired a new stake in Jacobs Solutions in the third quarter valued at approximately $36,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Jacobs Solutions in the fourth quarter valued at approximately $47,000. Finally, Cambridge Trust Co. acquired a new position in shares of Jacobs Solutions during the fourth quarter worth $54,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Trading Up 1.3 %

NYSE:J opened at $115.88 on Friday. Jacobs Solutions Inc. has a one year low of $106.78 and a one year high of $150.32. The company has a market cap of $14.68 billion, a PE ratio of 23.13, a PEG ratio of 1.51 and a beta of 0.84. The firm has a 50-day moving average of $118.31 and a 200-day moving average of $119.10. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.48 and a quick ratio of 1.48.

Jacobs Solutions (NYSE:J – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.06. Jacobs Solutions had a net margin of 4.21% and a return on equity of 14.84%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the company earned $1.56 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities research analysts expect that Jacobs Solutions Inc. will post 7.37 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Friday, February 24th were issued a dividend of $0.26 per share. The ex-dividend date was Thursday, February 23rd. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a yield of 0.90%. Jacobs Solutions’s payout ratio is 20.76%.

Jacobs Solutions announced that its board has authorized a share buyback program on Wednesday, January 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Jacobs Solutions news, insider Steven J. Demetriou sold 6,666 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $116.77, for a total value of $778,388.82. Following the transaction, the insider now directly owns 614,622 shares in the company, valued at $71,769,410.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Steven J. Demetriou sold 6,666 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $116.77, for a total transaction of $778,388.82. Following the sale, the insider now directly owns 614,622 shares in the company, valued at approximately $71,769,410.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher M.T. Thompson sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $119.64, for a total transaction of $418,740.00. Following the sale, the director now owns 34,682 shares in the company, valued at $4,149,354.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,498 shares of company stock worth $2,849,564. 1.00% of the stock is owned by insiders.

Jacobs Solutions 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.