California Public Employees Retirement System Sells 11,491 Shares of Jacobs Solutions Inc. (NYSE:J)

California Public Employees Retirement System reduced its stake in Jacobs Solutions Inc. (NYSE:J) by 4.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 244,746 shares of the company’s stock after selling 11,491 shares during the period. California Public Employees Retirement System’s holdings in Jacobs Solutions were worth $32,703,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Allstate Corp purchased a new position in shares of Jacobs Solutions during the 4th quarter worth approximately $476,000. Orion Portfolio Solutions LLC boosted its position in shares of Jacobs Solutions by 0.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 11,006 shares of the company’s stock valued at $1,471,000 after purchasing an additional 83 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Jacobs Solutions by 1.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 39,161 shares of the company’s stock worth $5,233,000 after purchasing an additional 504 shares during the period. New Age Alpha Advisors LLC bought a new position in Jacobs Solutions in the fourth quarter worth $7,777,000. Finally, Blair William & Co. IL lifted its position in Jacobs Solutions by 4.8% during the fourth quarter. Blair William & Co. IL now owns 55,234 shares of the company’s stock valued at $7,380,000 after buying an additional 2,509 shares during the period. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Performance

Shares of J opened at $124.61 on Thursday. Jacobs Solutions Inc. has a 12 month low of $118.67 and a 12 month high of $156.31. The business’s fifty day simple moving average is $128.29 and its two-hundred day simple moving average is $135.56. 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 cap of $15.27 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. Jacobs Solutions’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the company earned $1.45 EPS. Research analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions declared that its board has initiated a share buyback program on Tuesday, February 4th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 21st were given a dividend of $0.32 per share. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.03%. Jacobs Solutions’s dividend payout ratio is 26.39%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on J shares. Citigroup decreased their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird decreased 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 note on Wednesday, February 5th. StockNews.com started coverage on Jacobs Solutions in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Finally, Truist Financial boosted their target price on Jacobs Solutions from $137.00 to $142.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $153.86.

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.