Kentucky Retirement Systems Lowers Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Kentucky Retirement Systems lessened its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,604 shares of the company’s stock after selling 119 shares during the quarter. Kentucky Retirement Systems’ holdings in Jacobs Solutions were worth $1,150,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of J. First Horizon Advisors Inc. boosted its stake in shares of Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Quarry LP grew its stake in shares of Jacobs Solutions by 394.9% during the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock worth $38,000 after purchasing an additional 233 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Jacobs Solutions in the third quarter valued at about $42,000. True Wealth Design LLC acquired a new stake in shares of Jacobs Solutions in the third quarter valued at about $44,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in Jacobs Solutions by 215.7% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the company’s stock worth $49,000 after buying an additional 248 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Down 0.8 %

J stock opened at $129.12 on Monday. Jacobs Solutions Inc. has a one year low of $110.95 and a one year high of $150.54. The stock has a market capitalization of $15.82 billion, a P/E ratio of 26.62, a PEG ratio of 1.84 and a beta of 0.72. The company has a 50 day moving average price of $134.83 and a two-hundred day moving average price of $139.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.25.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share 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 for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the business posted $1.45 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.29. Jacobs Solutions’s dividend payout ratio (DPR) is currently 23.92%.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial lifted their price target 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. The Goldman Sachs Group restated a “neutral” rating and issued a $150.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $152.00 price target on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Citigroup dropped their price objective 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. Finally, StockNews.com assumed coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Jacobs Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $155.89.

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.