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

Jacobs Solutions Inc. (NYSE:J) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Investors of record on Friday, May 24th will be paid a dividend of 0.29 per share on Friday, June 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Thursday, May 23rd.

Jacobs Solutions has raised its dividend payment by an average of 11.0% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Jacobs Solutions has a payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE J opened at $138.80 on Wednesday. Jacobs Solutions has a fifty-two week low of $109.00 and a fifty-two week high of $154.50. The firm’s 50-day simple moving average is $145.48 and its 200 day simple moving average is $138.71. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. The stock has a market cap of $17.38 billion, a P/E ratio of 26.80, a P/E/G ratio of 1.58 and a beta of 0.74.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.07. Jacobs Solutions had a net margin of 3.83% and a return on equity of 14.59%. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the previous year, the business earned $1.81 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Equities analysts expect that Jacobs Solutions will post 7.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on J. Citigroup lifted their price target on Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Bank of America lifted their price target on Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Argus lifted their price target on Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. William Blair cut Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research note 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 on the stock in a research note on Wednesday, May 8th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Jacobs Solutions has an average rating of “Moderate Buy” and an average target price of $156.82.

Insider Transactions at Jacobs Solutions

In other Jacobs Solutions news, EVP Patrick Hill sold 5,486 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $149.00, for a total value of $817,414.00. Following the transaction, the executive vice president now owns 57,233 shares of the company’s stock, valued at $8,527,717. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Patrick Hill sold 5,486 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $149.00, for a total transaction of $817,414.00. Following the transaction, the executive vice president now owns 57,233 shares of the company’s stock, valued at $8,527,717. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven J. Demetriou sold 7,000 shares of the company’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 transaction, the insider now directly owns 548,138 shares in the company, valued at approximately $78,855,132.68. The disclosure for this sale can be found here. Insiders sold a total of 22,486 shares of company stock worth $3,344,599 over the last three months. 1.00% of the stock is currently owned by insiders.

Jacobs Solutions Company Profile

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.