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

State of Michigan Retirement System cut its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,299 shares of the company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Jacobs Solutions were worth $4,792,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Jacobs Solutions by 7.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 42,031 shares of the company’s stock worth $5,456,000 after purchasing an additional 2,836 shares in the last quarter. AGF Management Ltd. raised its holdings in shares of Jacobs Solutions by 1.5% in the fourth quarter. AGF Management Ltd. now owns 1,216,849 shares of the company’s stock worth $157,947,000 after acquiring an additional 18,484 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Jacobs Solutions by 8.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 139,469 shares of the company’s stock valued at $21,441,000 after acquiring an additional 10,542 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Jacobs Solutions by 90.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 18,623 shares of the company’s stock valued at $2,417,000 after acquiring an additional 8,848 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. purchased a new stake in Jacobs Solutions during the 1st quarter worth about $2,626,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Insider Activity

In related news, SVP William B. Allen, Jr. sold 1,451 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.51, for a total value of $212,586.01. Following the transaction, the senior vice president now directly owns 26,699 shares of the company’s stock, valued at approximately $3,911,670.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Jacobs Solutions news, SVP William B. Allen, Jr. sold 1,451 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.51, for a total transaction of $212,586.01. Following the completion of the transaction, the senior vice president now owns 26,699 shares of the company’s stock, valued at approximately $3,911,670.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.94, for a total transaction of $979,580.00. Following the sale, the insider now owns 534,138 shares of the company’s stock, valued at $74,747,271.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,451 shares of company stock worth $3,196,336. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on J. StockNews.com downgraded shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 15th. William Blair downgraded shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. Robert W. Baird cut their price target on shares of Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. UBS Group boosted their price objective on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada increased their target price on Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $160.40.

Jacobs Solutions Stock Up 0.0 %

Shares of J stock traded up $0.06 on Tuesday, reaching $150.10. 12,479 shares of the company’s stock traded hands, compared to its average volume of 661,968. The company has a market capitalization of $18.79 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 1.67 and a beta of 0.70. Jacobs Solutions Inc. has a 12-month low of $120.71 and a 12-month high of $154.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.17 and a current ratio of 1.17. The business’s 50 day moving average price is $143.56 and its two-hundred day moving average price is $144.08.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, hitting the consensus estimate of $1.96. Jacobs Solutions had a net margin of 3.83% and a return on equity of 14.59%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period last year, the company posted $1.82 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that Jacobs Solutions Inc. will post 7.98 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, July 26th. This represents a $1.16 annualized dividend and a dividend yield of 0.77%. Jacobs Solutions’s dividend payout ratio (DPR) is 22.39%.

Jacobs Solutions Company 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.