Jacobs Solutions Inc. (NYSE:J) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 33.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,167 shares of the company's stock after selling 7,090 shares during the quarter. State of Alaska Department of Revenue's holdings in Jacobs Solutions were worth $1,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in shares of Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company's stock worth $32,000 after purchasing an additional 74 shares during the period. Quarry LP raised its position in Jacobs Solutions by 394.9% during the third quarter. Quarry LP now owns 292 shares of the company's stock valued at $38,000 after acquiring an additional 233 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Jacobs Solutions during the third quarter valued at approximately $42,000. True Wealth Design LLC purchased a new position in Jacobs Solutions during the third quarter valued at approximately $44,000. Finally, GAMMA Investing LLC raised its position in Jacobs Solutions by 55.8% during the third quarter. GAMMA Investing LLC now owns 405 shares of the company's stock valued at $53,000 after acquiring an additional 145 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on J shares. StockNews.com started coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They set a "hold" rating for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Benchmark cut Jacobs Solutions from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. The Goldman Sachs Group reiterated a "neutral" rating and set a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Finally, Robert W. Baird cut their price objective 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. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Jacobs Solutions currently has an average rating of "Moderate Buy" and an average target price of $155.89.

Jacobs Solutions Price Performance

Shares of J traded down $1.55 during trading hours on Friday, hitting $128.81. 830,761 shares of the stock were exchanged, compared to its average volume of 785,657. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.20 and a current ratio of 1.25. Jacobs Solutions Inc. has a 12-month low of $110.95 and a 12-month high of $150.54. The company has a market cap of $15.78 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The stock's 50-day moving average price is $135.47 and its two-hundred day moving average price is $140.45.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping 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 firm had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.92 billion. During the same period in the previous year, the business earned $1.45 earnings per share. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts expect that Jacobs Solutions Inc. will post 6.05 earnings per share for the current year.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, February 21st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. Jacobs Solutions's payout ratio is presently 26.39%.

Jacobs Solutions declared that its board has authorized a share buyback program on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board 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.