California Public Employees Retirement System Has $32.70 Million Holdings in Jacobs Solutions Inc. (NYSE:J)

California Public Employees Retirement System reduced its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 244,746 shares of the company's stock after selling 11,491 shares during the quarter. California Public Employees Retirement System owned 0.20% of Jacobs Solutions worth $32,703,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Ninety One UK Ltd raised its holdings in shares of Jacobs Solutions by 29.2% during 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. Proficio Capital Partners LLC increased its holdings in Jacobs Solutions by 15,913.6% during the 4th quarter. Proficio Capital Partners LLC now owns 448,860 shares of the company's stock worth $59,977,000 after purchasing an additional 446,057 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Jacobs Solutions by 138.9% in the 4th quarter. Natixis Advisors LLC now owns 479,452 shares of the company's stock valued at $64,065,000 after purchasing an additional 278,777 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Jacobs Solutions in the fourth quarter valued at about $24,069,000. Finally, Soros Fund Management LLC boosted its position in shares of Jacobs Solutions by 34.3% during the third quarter. Soros Fund Management LLC now owns 500,907 shares of the company's stock worth $65,569,000 after buying an additional 127,874 shares during the period. Institutional investors and hedge funds own 85.65% of the company's stock.

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Wall Street Analyst Weigh In

J has been the topic of a number of recent research reports. Citigroup dropped their target price on Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $150.00 price target on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Truist Financial boosted their price objective on shares of Jacobs Solutions from $137.00 to $142.00 and gave the stock a "hold" rating in a research report on Thursday, December 19th. Finally, Robert W. Baird decreased their target price on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Five investment 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 has a consensus rating of "Moderate Buy" and an average price target of $153.86.

Jacobs Solutions Stock Performance

NYSE J traded down $7.01 on Friday, hitting $111.47. 1,035,832 shares of the stock were exchanged, compared to its average volume of 756,274. The company has a market capitalization of $13.66 billion, a PE ratio of 22.98, a P/E/G ratio of 1.84 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.25. The business's fifty day moving average is $127.83 and its 200 day moving average is $135.44. Jacobs Solutions Inc. has a 52 week low of $110.91 and a 52 week high of $156.31.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its earnings results 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 company had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.92 billion. During the same period in the prior year, the firm earned $1.45 EPS. Jacobs Solutions's quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts anticipate that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.15%. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions's dividend payout ratio (DPR) is presently 26.39%.

Jacobs Solutions declared that its board has approved a stock buyback plan on Tuesday, February 4th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.