Retirement Systems of Alabama Has $3.59 Million Holdings in Jacobs Solutions Inc. (NYSE:J)

Retirement Systems of Alabama lessened its holdings in Jacobs Solutions Inc. (NYSE:J) by 1.5% during the fourth quarter, HoldingsChannel reports. The fund owned 26,899 shares of the company’s stock after selling 413 shares during the quarter. Retirement Systems of Alabama’s holdings in Jacobs Solutions were worth $3,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Jacobs Solutions by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock worth $53,000 after purchasing an additional 145 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Jacobs Solutions by 219.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,707 shares of the company’s stock worth $878,000 after purchasing an additional 4,608 shares in the last quarter. CX Institutional grew its position in Jacobs Solutions by 8.5% in the 3rd quarter. CX Institutional now owns 8,015 shares of the company’s stock worth $1,049,000 after purchasing an additional 629 shares in the last quarter. Creative Planning grew its position in Jacobs Solutions by 1.0% in the 3rd quarter. Creative Planning now owns 32,079 shares of the company’s stock worth $4,199,000 after purchasing an additional 327 shares in the last quarter. Finally, Occidental Asset Management LLC grew its position in shares of Jacobs Solutions by 7.8% during the 3rd quarter. Occidental Asset Management LLC now owns 22,426 shares of the company’s stock valued at $2,936,000 after acquiring an additional 1,618 shares during the period. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

NYSE J opened at $134.54 on Tuesday. Jacobs Solutions Inc. has a 1 year low of $110.95 and a 1 year high of $150.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.20. The stock has a market capitalization of $16.49 billion, a PE ratio of 27.74, a P/E/G ratio of 1.88 and a beta of 0.72. The company’s 50 day simple moving average is $136.17 and its two-hundred day simple moving average is $140.88.

Jacobs Solutions (NYSE:J) last posted its 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 business 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 company posted $1.45 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal 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 paid a $0.32 dividend. The ex-dividend date is Friday, February 21st. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 0.95%. Jacobs Solutions’s dividend payout ratio is currently 23.92%.

Jacobs Solutions announced that its board has authorized a stock buyback plan on Tuesday, February 4th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Robert W. Baird reduced 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. The Goldman Sachs Group reissued a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Benchmark downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, StockNews.com assumed coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.89.

Jacobs Solutions 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.