New Mexico Educational Retirement Board Has $800,000 Position in Jacobs Solutions Inc. (NYSE:J)

New Mexico Educational Retirement Board trimmed its position in shares of Jacobs Solutions Inc. (NYSE:J) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,987 shares of the company’s stock after selling 100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Jacobs Solutions were worth $800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its holdings in Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Quarry LP grew its stake in Jacobs Solutions by 394.9% during the third quarter. Quarry LP now owns 292 shares of the company’s stock worth $38,000 after purchasing an additional 233 shares during the period. Capital Performance Advisors LLP acquired a new stake in Jacobs Solutions during the third quarter worth approximately $42,000. True Wealth Design LLC bought a new stake in Jacobs Solutions in the third quarter worth approximately $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Jacobs Solutions in the fourth quarter valued at approximately $65,000. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Stock Up 1.2 %

Shares of J opened at $130.37 on Wednesday. Jacobs Solutions Inc. has a 1 year low of $110.95 and a 1 year high of $150.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.25 and a quick ratio of 1.20. The stock has a 50 day simple moving average of $135.32 and a two-hundred day simple moving average of $140.26. The firm has a market cap of $15.98 billion, a P/E ratio of 26.88, a P/E/G ratio of 1.88 and a beta of 0.72.

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

Jacobs Solutions announced that its board has approved a stock buyback program on Tuesday, February 4th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to purchase up to 9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a dividend of $0.32 per share. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. This represents a $1.28 dividend on an annualized basis and a yield of 0.98%. Jacobs Solutions’s dividend payout ratio is presently 23.92%.

Analyst Upgrades and Downgrades

J has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Citigroup decreased their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Benchmark cut shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Robert W. Baird decreased their target price on Jacobs Solutions from $154.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, StockNews.com started coverage on Jacobs Solutions in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.89.

Jacobs Solutions 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.