State of Tennessee Department of Treasury Cuts Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

State of Tennessee Department of Treasury lowered its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 58.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,493 shares of the company's stock after selling 69,162 shares during the quarter. State of Tennessee Department of Treasury's holdings in Jacobs Solutions were worth $6,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC grew its position in Jacobs Solutions by 31.7% during the 3rd quarter. Barclays PLC now owns 312,700 shares of the company's stock worth $40,933,000 after acquiring an additional 75,318 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Jacobs Solutions by 151.2% in the third quarter. Virtu Financial LLC now owns 4,675 shares of the company's stock worth $612,000 after purchasing an additional 2,814 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in shares of Jacobs Solutions by 3.1% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 20,851 shares of the company's stock worth $2,729,000 after buying an additional 630 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Jacobs Solutions during the 3rd quarter valued at $3,205,000. Finally, Tidal Investments LLC boosted its position in Jacobs Solutions by 3.5% during the 3rd quarter. Tidal Investments LLC now owns 24,440 shares of the company's stock valued at $3,199,000 after buying an additional 829 shares during the period. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Stock Up 0.8 %

J traded up $0.97 during trading on Monday, reaching $122.54. The stock had a trading volume of 556,022 shares, compared to its average volume of 782,577. 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 company has a market capitalization of $15.02 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 1.84 and a beta of 0.73. The stock's 50 day moving average is $121.30 and its two-hundred day moving average is $132.00. Jacobs Solutions Inc. has a one year low of $106.23 and a one year high of $156.31.

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

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were given a $0.32 dividend. This is a boost from Jacobs Solutions's previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions's payout ratio is currently 26.39%.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on J shares. Truist Financial lowered their price objective on shares of Jacobs Solutions from $141.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird lowered their price target 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. Finally, Citigroup cut their price objective on Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $150.86.

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.