Jacobs Solutions Inc. (NYSE:J) Sees Large Growth in Short Interest

Jacobs Solutions Inc. (NYSE:J) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,510,000 shares, a growth of 8.6% from the October 31st total of 1,390,000 shares. Based on an average trading volume of 788,100 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.2% of the company’s shares are sold short.

Jacobs Solutions Stock Down 1.3 %

Shares of NYSE J traded down $1.87 during midday trading on Tuesday, hitting $138.00. The stock had a trading volume of 654,730 shares, compared to its average volume of 809,458. The business’s 50 day moving average is $141.10 and its 200-day moving average is $142.42. Jacobs Solutions has a 52 week low of $104.90 and a 52 week high of $150.54. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.30. The company has a market cap of $17.11 billion, a P/E ratio of 21.80, a PEG ratio of 2.11 and a beta of 0.70.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, November 19th. The company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.71). The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $4.50 billion. Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 EPS. As a group, analysts predict that Jacobs Solutions will post 6.06 EPS for the current year.

Jacobs Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, October 25th. Jacobs Solutions’s dividend payout ratio (DPR) is presently 18.33%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on J. Truist Financial dropped their price objective on Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Citigroup cut their price target on shares of Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, November 20th. Robert W. Baird upped their price objective on shares of Jacobs Solutions from $147.00 to $149.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. UBS Group lifted their target price on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Benchmark cut shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tlwm lifted its position in Jacobs Solutions by 1.2% during the second quarter. Tlwm now owns 6,046 shares of the company’s stock valued at $845,000 after purchasing an additional 74 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Hudson Edge Investment Partners Inc. grew its stake in shares of Jacobs Solutions by 1.4% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 5,967 shares of the company’s stock valued at $834,000 after acquiring an additional 82 shares during the period. Empirical Finance LLC increased its holdings in Jacobs Solutions by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 4,358 shares of the company’s stock worth $570,000 after acquiring an additional 82 shares in the last quarter. Finally, OneDigital Investment Advisors LLC raised its stake in Jacobs Solutions by 4.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock worth $293,000 after acquiring an additional 86 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.

About Jacobs Solutions

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.