Jacobs Solutions Inc. to Issue Quarterly Dividend of $0.29 (NYSE:J)

Jacobs Solutions Inc. (NYSE:J) announced a quarterly dividend on Thursday, July 11th, RTT News reports. Investors of record on Friday, July 26th will be given a dividend of 0.29 per share on Friday, August 23rd. This represents a $1.16 annualized dividend and a dividend yield of 0.82%.

Jacobs Solutions has raised its dividend payment by an average of 11.0% annually over the last three years. Jacobs Solutions has a payout ratio of 12.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Jacobs Solutions to earn $8.80 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 13.2%.

Jacobs Solutions Stock Up 1.8 %

NYSE J traded up $2.54 during trading on Thursday, hitting $141.11. 475,977 shares of the company traded hands, compared to its average volume of 660,244. The company has a market capitalization of $17.67 billion, a P/E ratio of 26.75, a PEG ratio of 1.59 and a beta of 0.70. The business has a fifty day simple moving average of $139.35 and a 200 day simple moving average of $141.08. Jacobs Solutions has a 12 month low of $120.71 and a 12 month high of $154.50. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.32.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.07. Jacobs Solutions had a return on equity of 14.59% and a net margin of 3.83%. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm posted $1.81 EPS. The company’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts predict that Jacobs Solutions will post 7.98 EPS for the current year.

Insider Activity at Jacobs Solutions

In related news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $143.86, for a total value of $1,007,020.00. Following the completion of the transaction, the insider now owns 548,138 shares of the company’s stock, valued at $78,855,132.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $143.86, for a total value of $1,007,020.00. Following the completion of the transaction, the insider now directly owns 548,138 shares in the company, valued at $78,855,132.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin C. Berryman sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $145.31, for a total value of $217,965.00. Following the transaction, the chief financial officer now directly owns 231,604 shares in the company, valued at approximately $33,654,377.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,500 shares of company stock valued at $3,180,575. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup increased their price objective on Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Argus upped their price objective on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. StockNews.com lowered shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. William Blair downgraded Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. Finally, Truist Financial dropped their price target on Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.82.

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.