New York State Teachers Retirement System Cuts Holdings in Jacobs Solutions Inc. (NYSE:J)

New York State Teachers Retirement System reduced its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,571 shares of the company's stock after selling 15,564 shares during the period. New York State Teachers Retirement System owned about 0.08% of Jacobs Solutions worth $13,438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of J. Heritage Family Offices LLP raised its stake in Jacobs Solutions by 55.7% in the fourth quarter. Heritage Family Offices LLP now owns 14,912 shares of the company's stock valued at $1,993,000 after buying an additional 5,332 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Jacobs Solutions by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company's stock worth $1,305,000 after acquiring an additional 175 shares in the last quarter. Occidental Asset Management LLC lifted its stake in Jacobs Solutions by 11.7% during the fourth quarter. Occidental Asset Management LLC now owns 25,045 shares of the company's stock worth $3,347,000 after purchasing an additional 2,619 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Jacobs Solutions by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company's stock valued at $56,778,000 after purchasing an additional 47,211 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Jacobs Solutions in the 3rd quarter valued at $3,205,000. Hedge funds and other institutional investors own 85.65% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Citigroup dropped their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Benchmark lowered shares of Jacobs Solutions from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Truist Financial raised their price target on Jacobs Solutions from $137.00 to $142.00 and gave the company a "hold" rating in a research report on Thursday, December 19th. The Goldman Sachs Group restated a "neutral" rating and set a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Finally, Robert W. Baird lowered their price target on shares of Jacobs Solutions from $154.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $155.89.

Jacobs Solutions Stock Performance

Shares of J stock traded down $1.01 during trading on Friday, reaching $129.12. 1,583,644 shares of the company's stock were exchanged, compared to its average volume of 799,533. Jacobs Solutions Inc. has a twelve month low of $110.95 and a twelve month high of $150.54. The firm's fifty day moving average price is $134.83 and its 200-day moving average price is $139.96. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $15.82 billion, a PE ratio of 26.62, a PEG ratio of 1.84 and a beta of 0.72.

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

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a $0.32 dividend. The ex-dividend date is Friday, February 21st. This is an increase from Jacobs Solutions's previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 0.99%. Jacobs Solutions's dividend payout ratio (DPR) is currently 23.92%.

Jacobs Solutions announced that its Board of Directors has approved a share buyback plan on Tuesday, February 4th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is 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.