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

State of Michigan Retirement System lessened its position in Jacobs Solutions Inc. (NYSE:J) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,699 shares of the company’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Jacobs Solutions were worth $4,503,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Jacobs Solutions by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock worth $410,444,000 after buying an additional 73,566 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of Jacobs Solutions by 29.2% in the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock worth $265,649,000 after acquiring an additional 449,161 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in shares of Jacobs Solutions by 3.2% during the third quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock valued at $143,263,000 after purchasing an additional 32,650 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Jacobs Solutions by 9.6% during the fourth quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company’s stock valued at $119,724,000 after purchasing an additional 78,284 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Jacobs Solutions by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 760,516 shares of the company’s stock worth $99,552,000 after purchasing an additional 14,405 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

NYSE:J opened at $123.38 on Friday. The stock has a 50-day moving average price of $133.13 and a 200 day moving average price of $138.85. The stock has a market capitalization of $15.12 billion, a P/E ratio of 25.44, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the firm posted $1.45 EPS. The company’s revenue was up 4.4% on a year-over-year basis. Equities research analysts forecast that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions declared that its board has authorized a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.04%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s payout ratio is presently 26.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on J. The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Benchmark cut Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Citigroup lowered their target price on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Truist Financial boosted their price target on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.89.

Jacobs Solutions 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.