Texas Permanent School Fund Acquires 228 Shares of Jacobs Solutions Inc. (NYSE:J)

Texas Permanent School Fund boosted its holdings in shares of Jacobs Solutions Inc. (NYSE:JGet Rating) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,989 shares of the company’s stock after purchasing an additional 228 shares during the period. Texas Permanent School Fund’s holdings in Jacobs Solutions were worth $2,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new stake in Jacobs Solutions in the first quarter valued at $138,000. CWM LLC grew its stake in shares of Jacobs Solutions by 32.1% in the 2nd quarter. CWM LLC now owns 1,559 shares of the company’s stock valued at $198,000 after buying an additional 379 shares during the period. MetLife Investment Management LLC grew its stake in shares of Jacobs Solutions by 22.1% in the 1st quarter. MetLife Investment Management LLC now owns 35,158 shares of the company’s stock valued at $4,845,000 after buying an additional 6,368 shares during the period. Brown Advisory Inc. grew its stake in shares of Jacobs Solutions by 0.8% in the 1st quarter. Brown Advisory Inc. now owns 16,815 shares of the company’s stock valued at $2,322,000 after buying an additional 132 shares during the period. Finally, Scotia Capital Inc. grew its stake in shares of Jacobs Solutions by 6.5% in the 1st quarter. Scotia Capital Inc. now owns 6,146 shares of the company’s stock valued at $847,000 after buying an additional 373 shares during the period. 86.73% of the stock is currently owned by institutional investors.

Jacobs Solutions Price Performance

Jacobs Solutions stock opened at $124.08 on Tuesday. Jacobs Solutions Inc. has a 52 week low of $106.78 and a 52 week high of $150.32. The company’s 50 day moving average price is $115.97 and its two-hundred day moving average price is $125.16. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.59. The stock has a market cap of $15.83 billion, a P/E ratio of 34.85, a P/E/G ratio of 1.53 and a beta of 0.88.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, September 30th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.92 annualized dividend and a dividend yield of 0.74%. Jacobs Solutions’s dividend payout ratio is currently 25.84%.

Analysts Set New Price Targets

Several brokerages have recently commented on J. Royal Bank of Canada reduced their target price on Jacobs Solutions from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Thursday, August 4th. Citigroup dropped their price target on shares of Jacobs Solutions from $155.00 to $151.00 and set a “buy” rating on the stock in a research report on Tuesday, August 2nd. Credit Suisse Group dropped their price target on shares of Jacobs Solutions from $159.00 to $154.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 2nd. Finally, StockNews.com initiated coverage on shares of Jacobs Solutions in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.57.

Jacobs Solutions Company Profile

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Jacobs Solutions Inc provides consulting, technical, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, rest of Asia, Australia, New Zealand, South America, Mexico, the Middle East, and Africa. It provides cybersecurity, data analytics, systems and software application integration and consulting, enterprise and mission IT, engineering and design, nuclear, enterprise level operations and maintenance, artificial intelligence and automation, software development, digitally driven consulting, planning and architecture, program management, and other technical consulting solutions.

Further Reading

Institutional Ownership by Quarter for Jacobs Solutions (NYSE:J)

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