Kentucky Retirement Systems Insurance Trust Fund Invests $433,000 in Jacobs Solutions Inc. (NYSE:J)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,584 shares of the company's stock, valued at approximately $433,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC acquired a new stake in shares of Jacobs Solutions during the fourth quarter worth approximately $210,000. IFP Advisors Inc increased its holdings in shares of Jacobs Solutions by 123.0% during the fourth quarter. IFP Advisors Inc now owns 1,715 shares of the company's stock worth $229,000 after buying an additional 946 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in shares of Jacobs Solutions by 2.8% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 21,430 shares of the company's stock worth $2,864,000 after buying an additional 579 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Jacobs Solutions by 9.6% during the fourth quarter. Bank of New York Mellon Corp now owns 896,004 shares of the company's stock worth $119,724,000 after buying an additional 78,284 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Jacobs Solutions by 2.4% during the fourth quarter. Amalgamated Bank now owns 26,167 shares of the company's stock worth $3,496,000 after buying an additional 610 shares in the last quarter. Institutional investors own 85.65% of the company's stock.

Jacobs Solutions Trading Up 0.4%

Shares of NYSE J traded up $0.53 during midday trading on Friday, reaching $130.09. 766,784 shares of the stock were exchanged, compared to its average volume of 798,304. The business has a 50-day simple moving average of $125.76 and a two-hundred day simple moving average of $127.58. The company has a market capitalization of $15.63 billion, a price-to-earnings ratio of 35.84, a P/E/G ratio of 1.83 and a beta of 0.77. Jacobs Solutions Inc. has a 12 month low of $106.23 and a 12 month high of $156.31. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.50 and a quick ratio of 1.50.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.41 by $0.02. The business had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $3 billion. Jacobs Solutions had a net margin of 3.53% and a return on equity of 15.67%. The firm's revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 EPS. As a group, equities research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 23rd were paid a $0.32 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.28 annualized dividend and a yield of 0.98%. Jacobs Solutions's payout ratio is currently 35.26%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup lowered their price target on shares of Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating for the company in a report on Friday, April 25th. Truist Financial raised their price target on shares of Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a report on Monday, May 12th. UBS Group lowered their price target on shares of Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Royal Bank Of Canada raised their price target on shares of Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Jacobs Solutions has a consensus rating of "Moderate Buy" and a consensus target price of $150.86.

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.