Retirement Systems of Alabama Cuts Stock Position in Jacobs Solutions Inc. (NYSE:J)

Retirement Systems of Alabama decreased its holdings in Jacobs Solutions Inc. (NYSE:J) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,751 shares of the company’s stock after selling 720 shares during the period. Retirement Systems of Alabama’s holdings in Jacobs Solutions were worth $3,602,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Jacobs Solutions by 29.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 20,320 shares of the company’s stock valued at $2,774,000 after purchasing an additional 4,565 shares during the last quarter. Raymond James & Associates boosted its stake in Jacobs Solutions by 14.7% during the third quarter. Raymond James & Associates now owns 80,498 shares of the company’s stock valued at $10,988,000 after buying an additional 10,296 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Jacobs Solutions by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 869,567 shares of the company’s stock valued at $118,696,000 after buying an additional 10,427 shares in the last quarter. Mackenzie Financial Corp increased its stake in Jacobs Solutions by 106.8% in the 3rd quarter. Mackenzie Financial Corp now owns 100,791 shares of the company’s stock worth $13,420,000 after acquiring an additional 52,063 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of Jacobs Solutions by 555.6% during the 3rd quarter. Strs Ohio now owns 104,279 shares of the company’s stock worth $14,234,000 after acquiring an additional 88,372 shares in the last quarter. Institutional investors own 85.65% of the company’s stock.

Analysts Set New Price Targets

J has been the topic of several research reports. 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 research report on Thursday, March 14th. Citigroup boosted their target price on Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. KeyCorp assumed coverage on Jacobs Solutions in a research report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Truist Financial assumed coverage on shares of Jacobs Solutions in a research report on Thursday, March 14th. They set a “hold” rating and a $154.00 price objective on the stock. Finally, Bank of America lifted their price target on shares of Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Jacobs Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $155.25.

Jacobs Solutions Stock Performance

Shares of NYSE:J opened at $141.70 on Wednesday. The firm’s 50 day simple moving average is $147.34 and its 200-day simple moving average is $138.31. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.37. Jacobs Solutions Inc. has a one year low of $109.00 and a one year high of $154.50. The firm has a market cap of $17.80 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.57 and a beta of 0.74.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, February 6th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.46. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the company posted $1.67 EPS. Jacobs Solutions’s revenue was up 10.6% on a year-over-year basis. As a group, equities analysts predict that Jacobs Solutions Inc. will post 8.07 EPS for the current year.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 24th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.16 annualized dividend and a dividend yield of 0.82%. Jacobs Solutions’s payout ratio is currently 20.71%.

Insider Buying and Selling

In other news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the transaction, the insider now directly owns 555,138 shares in the company, valued at $85,047,141.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Steven J. Demetriou sold 7,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $153.20, for a total value of $1,072,400.00. Following the completion of the transaction, the insider now directly owns 555,138 shares of the company’s stock, valued at approximately $85,047,141.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Patrick Hill sold 5,486 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $149.00, for a total value of $817,414.00. Following the sale, the executive vice president now directly owns 57,233 shares in the company, valued at approximately $8,527,717. The disclosure for this sale can be found here. Insiders sold a total of 24,338 shares of company stock valued at $3,618,695 over the last three months. 1.00% of the stock is owned by company insiders.

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.