State of New Jersey Common Pension Fund D Sells 24,782 Shares of Jacobs Solutions Inc. (NYSE:J)

State of New Jersey Common Pension Fund D cut its stake in Jacobs Solutions Inc. (NYSE:J) by 36.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,817 shares of the company’s stock after selling 24,782 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Jacobs Solutions were worth $6,122,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Marco Investment Management LLC boosted its holdings in Jacobs Solutions by 9.4% in the 2nd quarter. Marco Investment Management LLC now owns 35,180 shares of the company’s stock valued at $4,915,000 after purchasing an additional 3,015 shares during the period. Greenwood Gearhart Inc. lifted its holdings in shares of Jacobs Solutions by 0.5% during the 2nd quarter. Greenwood Gearhart Inc. now owns 55,895 shares of the company’s stock worth $7,809,000 after acquiring an additional 287 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Jacobs Solutions by 23.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 30,950 shares of the company’s stock worth $4,324,000 after acquiring an additional 5,899 shares during the period. Choreo LLC bought a new position in shares of Jacobs Solutions during the 2nd quarter worth about $298,000. Finally, Quest Partners LLC lifted its holdings in shares of Jacobs Solutions by 250.7% during the 2nd quarter. Quest Partners LLC now owns 1,189 shares of the company’s stock worth $166,000 after acquiring an additional 850 shares during the period. 85.65% of the stock is owned by institutional investors.

Jacobs Solutions Stock Up 1.0 %

Shares of NYSE J opened at $143.96 on Monday. The stock has a market cap of $18.03 billion, a P/E ratio of 27.79, a P/E/G ratio of 1.63 and a beta of 0.72. The firm has a 50 day moving average price of $145.42 and a 200 day moving average price of $144.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. Jacobs Solutions Inc. has a 52-week low of $120.71 and a 52-week high of $154.50.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.96. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.82 earnings per share. Analysts expect that Jacobs Solutions Inc. will post 7.97 EPS for the current year.

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, July 26th. Jacobs Solutions’s payout ratio is currently 22.39%.

Insider Buying and Selling at Jacobs Solutions

In other news, insider Steven J. Demetriou sold 7,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.94, for a total value of $979,580.00. Following the sale, the insider now owns 534,138 shares of the company’s stock, valued at $74,747,271.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Steven J. Demetriou sold 7,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.94, for a total value of $979,580.00. Following the sale, the insider now owns 534,138 shares of the company’s stock, valued at $74,747,271.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP William B. Allen, Jr. sold 1,451 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.51, for a total transaction of $212,586.01. Following the completion of the sale, the senior vice president now directly owns 26,699 shares in the company, valued at approximately $3,911,670.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,516 shares of company stock valued at $3,132,273. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on J. Royal Bank of Canada raised their price objective on shares of Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com downgraded shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. Truist Financial reissued a “hold” rating and set a $158.00 price target (up from $153.00) on shares of Jacobs Solutions in a report on Wednesday, August 7th. UBS Group lifted their price target on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Robert W. Baird cut their price target on shares of Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.67.

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.