Retirement Systems of Alabama Reduces Holdings in Jacobs Solutions Inc. (NYSE:J)

Retirement Systems of Alabama reduced its stake in Jacobs Solutions Inc. (NYSE:JFree Report) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,312 shares of the company’s stock after selling 310 shares during the quarter. Retirement Systems of Alabama’s holdings in Jacobs Solutions were worth $3,575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EdgeRock Capital LLC purchased a new stake in Jacobs Solutions during the 2nd quarter valued at about $26,000. First Horizon Advisors Inc. lifted its holdings in shares of Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Quarry LP boosted its position in Jacobs Solutions by 394.9% in the third quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after buying an additional 233 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Jacobs Solutions in the 3rd quarter worth approximately $42,000. Finally, True Wealth Design LLC purchased a new position in Jacobs Solutions during the 3rd quarter worth approximately $44,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on J. Raymond James raised shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price objective on the stock in a report on Friday, October 4th. Robert W. Baird increased their price target on Jacobs Solutions from $147.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Benchmark lowered Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. StockNews.com initiated coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, Truist Financial lifted their price target on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $156.11.

Read Our Latest Stock Report on Jacobs Solutions

Jacobs Solutions Stock Up 1.1 %

Shares of J opened at $134.06 on Friday. The firm has a market cap of $16.63 billion, a P/E ratio of 21.18, a PEG ratio of 2.04 and a beta of 0.70. Jacobs Solutions Inc. has a 12 month low of $104.90 and a 12 month high of $150.54. The stock’s 50 day moving average is $139.94 and its two-hundred day moving average is $142.18. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.30.

Jacobs Solutions (NYSE:JGet Free Report) last released its quarterly earnings results on Tuesday, November 19th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.71). The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $4.50 billion. Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. Jacobs Solutions’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 EPS. Analysts predict that Jacobs Solutions Inc. will post 6.06 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.87%. Jacobs Solutions’s dividend payout ratio is currently 18.33%.

About Jacobs Solutions

(Free Report)

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.

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Institutional Ownership by Quarter for Jacobs Solutions (NYSE:J)

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