Jacobs Solutions Inc. (NYSE:J) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,700 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Jacobs Solutions were worth $895,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Summit Trail Advisors LLC purchased a new stake in shares of Jacobs Solutions during the 4th quarter worth about $416,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Jacobs Solutions during the 4th quarter worth about $65,000. Savant Capital LLC boosted its stake in shares of Jacobs Solutions by 4.5% during the 4th quarter. Savant Capital LLC now owns 15,973 shares of the company’s stock worth $2,134,000 after acquiring an additional 693 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Jacobs Solutions by 8.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,944 shares of the company’s stock worth $527,000 after acquiring an additional 294 shares in the last quarter. Finally, Vest Financial LLC boosted its holdings in Jacobs Solutions by 78.8% in the 4th quarter. Vest Financial LLC now owns 18,088 shares of the company’s stock worth $2,417,000 after buying an additional 7,973 shares during the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on J shares. Truist Financial lifted their price target on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Robert W. Baird decreased their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Citigroup decreased their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Jacobs Solutions has an average rating of “Moderate Buy” and a consensus target price of $155.89.

Jacobs Solutions Price Performance

NYSE J opened at $128.81 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $135.47 and a 200 day simple moving average of $140.37. The company has a market cap of $15.78 billion, a P/E ratio of 26.56, a P/E/G ratio of 1.88 and a beta of 0.72. Jacobs Solutions Inc. has a 1 year low of $110.95 and a 1 year high of $150.54.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 EPS. On average, sell-side analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions’s payout ratio is presently 23.92%.

Jacobs Solutions announced that its board has authorized a stock buyback program on Tuesday, February 4th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to buy up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.