Teacher Retirement System of Texas Acquires New Holdings in Jacobs Solutions Inc. (NYSE:J)

Teacher Retirement System of Texas acquired a new stake in shares of Jacobs Solutions Inc. (NYSE:J) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 75,024 shares of the company’s stock, valued at approximately $10,025,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its stake in Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after buying an additional 74 shares during the last quarter. Avalon Trust Co purchased a new stake in Jacobs Solutions in the fourth quarter valued at about $33,000. Larson Financial Group LLC raised its stake in Jacobs Solutions by 71.9% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company’s stock valued at $37,000 after buying an additional 115 shares during the last quarter. Quarry LP raised its stake in Jacobs Solutions by 394.9% in the third quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after buying an additional 233 shares during the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of Jacobs Solutions in the third quarter worth about $44,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Down 0.5 %

Shares of J stock opened at $121.23 on Friday. The stock has a 50 day moving average of $130.74 and a 200 day moving average of $136.72. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock has a market cap of $14.86 billion, a P/E ratio of 24.99, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a twelve month low of $118.71 and a twelve month high of $156.31.

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

Jacobs Solutions announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 4th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 21st were issued a $0.32 dividend. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions’s dividend payout ratio (DPR) is presently 26.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Royal Bank of Canada restated an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Robert W. Baird reduced their price objective on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Truist Financial raised their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Finally, Citigroup reduced their price objective 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. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $153.63.

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.