Maryland State Retirement & Pension System Sells 221 Shares of Jacobs Solutions Inc. (NYSE:J)

Maryland State Retirement & Pension System trimmed its position in Jacobs Solutions Inc. (NYSE:J) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,900 shares of the company’s stock after selling 221 shares during the period. Maryland State Retirement & Pension System’s holdings in Jacobs Solutions were worth $922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in 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 acquiring an additional 74 shares during the period. Evoke Wealth LLC grew its position in shares of Jacobs Solutions by 0.7% in the 4th quarter. Evoke Wealth LLC now owns 12,385 shares of the company’s stock valued at $1,655,000 after purchasing an additional 88 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Jacobs Solutions by 10.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 958 shares of the company’s stock worth $128,000 after purchasing an additional 92 shares in the last quarter. Greenleaf Trust raised its holdings in Jacobs Solutions by 3.5% during the 4th quarter. Greenleaf Trust now owns 2,773 shares of the company’s stock worth $371,000 after buying an additional 95 shares during the period. Finally, Assetmark Inc. raised its holdings in Jacobs Solutions by 42.7% during the 4th quarter. Assetmark Inc. now owns 334 shares of the company’s stock worth $45,000 after buying an additional 100 shares during the period. Institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Down 0.5 %

J stock opened at $121.23 on Monday. The company has a market cap of $14.86 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 1.84 and a beta of 0.77. Jacobs Solutions Inc. has a twelve month low of $118.71 and a twelve month high of $156.31. The business has a 50 day moving average price of $130.74 and a two-hundred day moving average price of $136.65. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.41.

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

Jacobs Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 21st were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. Jacobs Solutions’s dividend payout ratio is presently 26.39%.

Jacobs Solutions declared that its Board of Directors has approved a stock buyback program on Tuesday, February 4th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to repurchase up to 9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on J. Robert W. Baird lowered their price objective on shares of Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a report on Tuesday, December 10th. Truist Financial boosted their price target on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 price objective on shares of Jacobs Solutions in a report on Tuesday, December 3rd. Finally, Citigroup cut their target price on Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $153.63.

Jacobs Solutions Company 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.