State of Michigan Retirement System Has $5.29 Million Position in Jacobs Solutions Inc. (NYSE:J)

State of Michigan Retirement System cut its position in shares of Jacobs Solutions Inc. (NYSE:J) by 0.3% during the 1st quarter, Holdings Channel reports. The firm owned 34,399 shares of the company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Jacobs Solutions were worth $5,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Jacobs Solutions during the fourth quarter worth approximately $27,000. First Pacific Financial acquired a new position in Jacobs Solutions in the 4th quarter valued at $27,000. ICA Group Wealth Management LLC bought a new position in Jacobs Solutions during the 4th quarter worth $30,000. Union Savings Bank lifted its holdings in shares of Jacobs Solutions by 78.1% during the fourth quarter. Union Savings Bank now owns 285 shares of the company’s stock worth $37,000 after buying an additional 125 shares in the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of Jacobs Solutions in the fourth quarter valued at about $39,000. 85.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on J shares. William Blair downgraded shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 8th. Robert W. Baird dropped their price objective on Jacobs Solutions from $168.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Citigroup increased their target price on Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Bank of America boosted their price target on Jacobs Solutions from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Argus upped their price objective on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.82.

Jacobs Solutions Trading Down 0.4 %

J opened at $137.77 on Wednesday. The company has a market cap of $17.25 billion, a P/E ratio of 26.60, a PEG ratio of 1.61 and a beta of 0.70. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $140.13 and its 200-day moving average is $140.74. Jacobs Solutions Inc. has a 1-year low of $118.17 and a 1-year high of $154.50.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.07. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.33 billion. Jacobs Solutions had a net margin of 3.83% and a return on equity of 14.59%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.81 earnings per share. Equities research analysts predict that Jacobs Solutions Inc. will post 7.98 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, May 24th were issued a $0.29 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.84%. Jacobs Solutions’s payout ratio is presently 22.39%.

Insider Activity

In other news, CFO Kevin C. Berryman sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $145.31, for a total value of $217,965.00. Following the completion of the transaction, the chief financial officer now owns 231,604 shares of the company’s stock, valued at $33,654,377.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $139.43, for a total transaction of $976,010.00. Following the transaction, the insider now directly owns 541,138 shares of the company’s stock, valued at approximately $75,450,871.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin C. Berryman sold 1,500 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $145.31, for a total value of $217,965.00. Following the completion of the sale, the chief financial officer now directly owns 231,604 shares of the company’s stock, valued at approximately $33,654,377.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,500 shares of company stock valued at $2,200,995. 1.00% of the stock is currently owned by corporate insiders.

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.