Kentucky Retirement Systems Reduces Holdings in Jacobs Solutions Inc. (NYSE:J)

Kentucky Retirement Systems reduced its position in Jacobs Solutions Inc. (NYSE:J) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,604 shares of the company’s stock after selling 119 shares during the period. Kentucky Retirement Systems’ holdings in Jacobs Solutions were worth $1,150,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Ninety One UK Ltd boosted its holdings in Jacobs Solutions by 29.2% in the fourth quarter. Ninety One UK Ltd now owns 1,988,092 shares of the company’s stock valued at $265,649,000 after purchasing an additional 449,161 shares during the last quarter. Sessa Capital IM L.P. purchased a new position in shares of Jacobs Solutions during the 3rd quarter valued at approximately $46,168,000. Soros Fund Management LLC boosted its stake in shares of Jacobs Solutions by 34.3% during the 3rd quarter. Soros Fund Management LLC now owns 500,907 shares of the company’s stock valued at $65,569,000 after buying an additional 127,874 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Jacobs Solutions by 28.1% during the third quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock worth $70,296,000 after buying an additional 117,940 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Jacobs Solutions by 19.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company’s stock worth $85,099,000 after buying an additional 107,849 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Trading Down 0.8 %

NYSE:J opened at $129.12 on Monday. The firm has a market capitalization of $15.82 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.84 and a beta of 0.72. The business has a 50 day simple moving average of $134.83 and a 200 day simple moving average of $139.95. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 earnings per share. Equities research analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 4th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Jacobs Solutions Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on J. StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Citigroup decreased their price target on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial upped their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Robert W. Baird decreased their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Jacobs Solutions has a consensus rating of “Moderate Buy” and an average target price 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.