State of Michigan Retirement System Cuts Stock Position in Jacobs Solutions Inc. (NYSE:J)

State of Michigan Retirement System decreased its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,399 shares of the company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Jacobs Solutions were worth $5,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners boosted its stake in shares of Jacobs Solutions by 268.4% in the fourth quarter. Boston Partners now owns 2,891,429 shares of the company’s stock worth $375,623,000 after acquiring an additional 2,106,589 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Jacobs Solutions by 134.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,658,049 shares of the company’s stock valued at $215,215,000 after buying an additional 951,369 shares during the last quarter. Ceredex Value Advisors LLC lifted its stake in shares of Jacobs Solutions by 117.2% in the fourth quarter. Ceredex Value Advisors LLC now owns 615,289 shares of the company’s stock worth $79,865,000 after buying an additional 332,053 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Jacobs Solutions by 14,897.6% during the fourth quarter. Panagora Asset Management Inc. now owns 321,548 shares of the company’s stock worth $41,737,000 after acquiring an additional 319,404 shares during the last quarter. Finally, Baupost Group LLC MA grew its stake in Jacobs Solutions by 49.2% during the 4th quarter. Baupost Group LLC MA now owns 727,786 shares of the company’s stock valued at $94,467,000 after acquiring an additional 240,000 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.

Insider Buying and Selling

In other news, CFO Kevin C. Berryman sold 1,500 shares of Jacobs Solutions stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $145.31, for a total value of $217,965.00. Following the sale, the chief financial officer now owns 231,604 shares of the company’s stock, valued at $33,654,377.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Kevin C. Berryman sold 1,500 shares of Jacobs Solutions 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 sale, the chief financial officer now directly owns 231,604 shares in the company, valued at $33,654,377.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $139.43, for a total value of $976,010.00. Following the completion of the transaction, the insider now owns 541,138 shares of the company’s stock, valued at approximately $75,450,871.34. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $2,200,995 over the last three months. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Argus lifted their price target on Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. William Blair lowered shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. Bank of America raised their price target on shares of Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Truist Financial cut their target price on Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Finally, Citigroup upped their price target on Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.82.

Jacobs Solutions Stock Performance

NYSE J opened at $137.77 on Wednesday. Jacobs Solutions Inc. has a 1 year low of $118.17 and a 1 year high of $154.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $17.25 billion, a PE ratio of 26.60, a P/E/G ratio of 1.61 and a beta of 0.70. The company has a fifty day moving average of $140.13 and a two-hundred day moving average of $140.74.

Jacobs Solutions (NYSE:J) last announced its earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $4.33 billion. During the same period last year, the firm posted $1.81 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts expect that Jacobs Solutions Inc. will post 7.98 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 24th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Thursday, May 23rd. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.39%.

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.