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

Jacobs Solutions Inc. (NYSE:J) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders 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 0.80%.

Jacobs Solutions has increased its dividend payment by an average of 11.0% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Jacobs Solutions has a payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Jacobs Solutions to earn $8.94 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 13.0%.

Jacobs Solutions Stock Up 1.2 %

Shares of NYSE J opened at $144.93 on Friday. The company has a market capitalization of $18.21 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74. Jacobs Solutions has a 52-week low of $109.00 and a 52-week high of $154.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.37. The company’s 50 day moving average price is $147.38 and its 200-day moving average price is $138.05.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, February 6th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.46. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company earned $1.67 EPS. Jacobs Solutions’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts forecast that Jacobs Solutions will post 8.07 earnings per share for the current year.

Insider Activity

In related news, EVP Shelette M. Gustafson sold 1,852 shares of Jacobs Solutions stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $148.00, for a total value of $274,096.00. Following the completion of the sale, the executive vice president now directly owns 28,791 shares in the company, valued at approximately $4,261,068. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Kevin C. Berryman sold 1,500 shares of Jacobs Solutions stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $153.20, for a total transaction of $229,800.00. Following the transaction, the chief financial officer now directly owns 233,104 shares of the company’s stock, valued at approximately $35,711,532.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Shelette M. Gustafson sold 1,852 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $148.00, for a total value of $274,096.00. Following the completion of the transaction, the executive vice president now directly owns 28,791 shares in the company, valued at $4,261,068. The disclosure for this sale can be found here. Insiders sold 17,338 shares of company stock worth $2,611,675 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

J has been the subject of several recent analyst reports. Truist Financial initiated coverage on shares of Jacobs Solutions in a research note on Thursday, March 14th. They issued a “hold” rating and a $154.00 target price for the company. KeyCorp started coverage on shares of Jacobs Solutions in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Royal Bank of Canada boosted their price target on shares of Jacobs Solutions from $151.00 to $161.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Citigroup boosted their price target on shares of Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Argus boosted their price target on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.25.

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.