State Board of Administration of Florida Retirement System Grows Position in Jacobs Solutions Inc. (NYSE:J)

Posted by Defense World Staff on May 8th, 2023

State Board of Administration of Florida Retirement System boosted its position in shares of Jacobs Solutions Inc. (NYSE:J – Get Rating) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,399 shares of the company’s stock after acquiring an additional 410 shares during the period. State Board of Administration of Florida Retirement System owned 0.11% of Jacobs Solutions worth $17,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc lifted its stake in Jacobs Solutions by 8.6% in the 3rd quarter. CIBC Asset Management Inc now owns 17,133 shares of the company’s stock worth $1,859,000 after purchasing an additional 1,363 shares in the last quarter. Clarius Group LLC lifted its holdings in shares of Jacobs Solutions by 3.8% in the 4th quarter. Clarius Group LLC now owns 2,657 shares of the company’s stock valued at $319,000 after acquiring an additional 97 shares during the last quarter. Versor Investments LP increased its stake in Jacobs Solutions by 21.5% during the fourth quarter. Versor Investments LP now owns 4,092 shares of the company’s stock worth $491,000 after acquiring an additional 724 shares during the last quarter. New York State Common Retirement Fund raised its position in Jacobs Solutions by 3.0% during the fourth quarter. New York State Common Retirement Fund now owns 243,880 shares of the company’s stock valued at $29,283,000 after purchasing an additional 7,080 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in shares of Jacobs Solutions by 5.7% in the 4th quarter. D.A. Davidson & CO. now owns 5,487 shares of the company’s stock valued at $659,000 after purchasing an additional 296 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Jacobs Solutions

In other news, insider Steven J. Demetriou sold 6,666 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $121.94, for a total transaction of $812,852.04. Following the completion of the transaction, the insider now directly owns 621,288 shares of the company’s stock, valued at approximately $75,759,858.72. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Christopher M.T. Thompson sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $119.64, for a total value of $418,740.00. Following the completion of the sale, the director now directly owns 34,682 shares in the company, valued at $4,149,354.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven J. Demetriou sold 6,666 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $121.94, for a total transaction of $812,852.04. Following the completion of the transaction, the insider now directly owns 621,288 shares in the company, valued at approximately $75,759,858.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,498 shares of company stock valued at $2,778,171. Corporate insiders own 1.00% of the company’s stock.

Jacobs Solutions Stock Performance

Shares of J stock opened at $119.13 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.48 and a quick ratio of 1.48. The business has a fifty day moving average of $115.96 and a 200 day moving average of $119.53. The firm has a market capitalization of $15.09 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 1.57 and a beta of 0.84. Jacobs Solutions Inc. has a 1 year low of $106.78 and a 1 year high of $140.90.

Jacobs Solutions (NYSE:J – Get Rating) last posted its earnings results on Tuesday, February 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.06. Jacobs Solutions had a net margin of 4.21% and a return on equity of 14.84%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts expect that Jacobs Solutions Inc. will post 7.38 earnings per share for the current year.

Jacobs Solutions declared that its board has authorized a share buyback program on Wednesday, January 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Jacobs Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, May 26th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Thursday, May 25th. Jacobs Solutions’s dividend payout ratio (DPR) is presently 20.76%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on J shares. Credit Suisse Group decreased their price objective on shares of Jacobs Solutions from $161.00 to $155.00 in a report on Wednesday, February 8th. Bank of America downgraded shares of Jacobs Solutions from a “buy” rating to a “neutral” rating and set a $137.00 price objective on the stock. in a research note on Friday, January 13th. Royal Bank of Canada lifted their target price on Jacobs Solutions from $150.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. Finally, StockNews.com initiated coverage on Jacobs Solutions in a research report on Thursday, March 16th. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.80.

About Jacobs Solutions

(Get Rating)

Jacobs Solutions, Inc is a holding company, which engages in the designing and deployment of technology-centric solutions. It operates through the following business segments: Critical Mission Solutions, People and Places Solutions, and PA Consulting. The Critical Mission Solutions segment offer broad sectors, including U.S.