Kentucky Retirement Systems Sells 106 Shares of Jacobs Solutions Inc. (NYSE:J)

Kentucky Retirement Systems lowered its position in Jacobs Solutions Inc. (NYSE:J) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,436 shares of the company’s stock after selling 106 shares during the period. Kentucky Retirement Systems’ holdings in Jacobs Solutions were worth $1,318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Seven Eight Capital LP bought a new position in Jacobs Solutions in the second quarter worth approximately $656,000. Hsbc Holdings PLC raised its stake in shares of Jacobs Solutions by 14.1% in the second quarter. Hsbc Holdings PLC now owns 228,105 shares of the company’s stock worth $31,921,000 after purchasing an additional 28,233 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Jacobs Solutions by 6.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,422 shares of the company’s stock worth $1,557,000 after purchasing an additional 673 shares during the last quarter. Amalgamated Bank raised its stake in shares of Jacobs Solutions by 21.2% in the second quarter. Amalgamated Bank now owns 31,544 shares of the company’s stock worth $4,407,000 after purchasing an additional 5,512 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Jacobs Solutions by 4.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 29,626 shares of the company’s stock worth $4,143,000 after purchasing an additional 1,279 shares during the last quarter. Institutional investors own 85.65% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on J. Truist Financial reissued a “hold” rating and issued a $158.00 price objective (up from $153.00) on shares of Jacobs Solutions in a research note on Wednesday, August 7th. StockNews.com downgraded Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 15th. UBS Group increased their price target on Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Robert W. Baird decreased their price target on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada increased their price target on Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

Insiders Place Their Bets

In other news, EVP Shelette M. Gustafson sold 4,167 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $150.14, for a total value of $625,633.38. Following the completion of the transaction, the executive vice president now directly owns 24,564 shares of the company’s stock, valued at $3,688,038.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Christopher M.T. Thompson sold 1,898 shares of Jacobs Solutions stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $150.85, for a total transaction of $286,313.30. Following the completion of the sale, the director now owns 42,069 shares of the company’s stock, valued at $6,346,108.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Shelette M. Gustafson sold 4,167 shares of Jacobs Solutions stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $150.14, for a total value of $625,633.38. Following the sale, the executive vice president now directly owns 24,564 shares of the company’s stock, valued at approximately $3,688,038.96. The disclosure for this sale can be found here. Insiders sold 21,516 shares of company stock valued at $3,132,273 over the last ninety days. 1.00% of the stock is currently owned by insiders.

Jacobs Solutions Stock Performance

NYSE:J opened at $148.64 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14. The business has a fifty day simple moving average of $146.13 and a two-hundred day simple moving average of $144.11. Jacobs Solutions Inc. has a 1 year low of $120.71 and a 1 year high of $154.50. The company has a market capitalization of $18.61 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.63 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, August 6th. The company reported $1.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.96. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the business posted $1.82 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts expect that Jacobs Solutions Inc. will post 7.97 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Friday, July 26th. Jacobs Solutions’s dividend payout ratio is currently 22.39%.

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.