Teacher Retirement System of Texas Invests $10.03 Million in Jacobs Solutions Inc. (NYSE:J)

Teacher Retirement System of Texas acquired a new position in shares of Jacobs Solutions Inc. (NYSE:J) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 75,024 shares of the company’s stock, valued at approximately $10,025,000. Teacher Retirement System of Texas owned approximately 0.06% of Jacobs Solutions at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Heritage Family Offices LLP raised its holdings in Jacobs Solutions by 55.7% during the 4th quarter. Heritage Family Offices LLP now owns 14,912 shares of the company’s stock valued at $1,993,000 after buying an additional 5,332 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Jacobs Solutions by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 9,767 shares of the company’s stock valued at $1,305,000 after buying an additional 175 shares during the period. Occidental Asset Management LLC raised its holdings in Jacobs Solutions by 11.7% during the 4th quarter. Occidental Asset Management LLC now owns 25,045 shares of the company’s stock valued at $3,347,000 after buying an additional 2,619 shares during the period. JPMorgan Chase & Co. raised its holdings in Jacobs Solutions by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 433,748 shares of the company’s stock valued at $56,778,000 after buying an additional 47,211 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Jacobs Solutions during the 3rd quarter valued at $3,205,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com assumed coverage on Jacobs Solutions in a report on Wednesday, December 4th. They set a “hold” rating on the stock. Robert W. Baird decreased their price target on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Citigroup cut their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Six 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 company has an average rating of “Hold” and a consensus target price of $153.63.

Jacobs Solutions Price Performance

J opened at $121.23 on Friday. Jacobs Solutions Inc. has a 12-month low of $118.71 and a 12-month high of $156.31. 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 business’s fifty day simple moving average is $130.74 and its 200-day simple moving average is $136.72. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.84 and a beta of 0.77.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Jacobs Solutions had a return on equity of 14.87% and a net margin of 4.28%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the company earned $1.45 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions announced that its Board of Directors has authorized a share repurchase 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Jacobs Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders 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 of this dividend was Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.06%. Jacobs Solutions’s dividend payout ratio is presently 26.39%.

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.