Mercer Global Advisors Inc. ADV Grows Position in Jacobs Solutions Inc. (NYSE:J)

Posted by Defense World Staff on May 15th, 2023

Mercer Global Advisors Inc. ADV raised its holdings in shares of Jacobs Solutions Inc. (NYSE:J – Get Rating) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,846 shares of the company’s stock after buying an additional 920 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Jacobs Solutions were worth $3,343,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Jacobs Solutions by 1.8% in the first 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 during the period. Capital International Investors grew its holdings in shares of Jacobs Solutions by 8.1% in the first quarter. Capital International Investors now owns 4,049,450 shares of the company’s stock valued at $558,055,000 after purchasing an additional 304,996 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Jacobs Solutions by 19.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,179,740 shares of the company’s stock valued at $381,791,000 after purchasing an additional 516,074 shares during the period. Invesco Ltd. grew its holdings 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 valued at $177,937,000 after purchasing an additional 398,033 shares during the period. Finally, Artemis Investment Management LLP grew its holdings in shares of Jacobs Solutions by 66.1% in the fourth quarter. Artemis Investment Management LLP now owns 998,205 shares of the company’s stock valued at $124,865,000 after purchasing an additional 397,089 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Jacobs Solutions Stock Down 0.9 %

Shares of J opened at $115.14 on Monday. The stock has a market capitalization of $14.59 billion, a PE ratio of 22.98, a P/E/G ratio of 1.55 and a beta of 0.84. Jacobs Solutions Inc. has a 1 year low of $106.78 and a 1 year high of $140.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.48 and a current ratio of 1.48. The company’s 50-day simple moving average is $115.50 and its 200-day simple moving average is $119.65.

Jacobs Solutions (NYSE:J – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.03. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4 billion. Jacobs Solutions had a net margin of 4.21% and a return on equity of 14.84%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 earnings per share. Analysts forecast that Jacobs Solutions Inc. will post 7.37 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, May 26th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $1.04 annualized dividend and a yield of 0.90%. Jacobs Solutions’s dividend payout ratio (DPR) is 20.76%.

Jacobs Solutions declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

J has been the topic of a number of recent analyst reports. Royal Bank of Canada upped 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. Credit Suisse Group decreased their target price on shares of Jacobs Solutions from $161.00 to $155.00 in a research report on Wednesday, February 8th. Sanford C. Bernstein decreased their target price on shares of Jacobs Solutions from $165.00 to $150.00 in a research report on Wednesday, May 10th. Finally, StockNews.com initiated coverage on shares of Jacobs Solutions in a research report on Thursday, March 16th. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.00.

Insider Activity at Jacobs Solutions

In related news, insider Steven J. Demetriou sold 6,666 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $121.94, for a total value of $812,852.04. Following the sale, the insider now owns 621,288 shares of the company’s stock, valued at $75,759,858.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Jacobs Solutions news, Director Christopher M.T. Thompson sold 3,500 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $119.64, for a total value of $418,740.00. Following the transaction, the director now directly owns 34,682 shares in the company, valued at $4,149,354.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven J. Demetriou sold 6,666 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $121.94, for a total transaction of $812,852.04. Following the completion of the transaction, the insider now owns 621,288 shares in the company, valued at $75,759,858.72. The disclosure for this sale can be found here. Insiders have sold a total of 23,498 shares of company stock valued at $2,778,171 over the last 90 days. 1.00% of the stock is owned by corporate 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.