State of Michigan Retirement System Reduces Stock Position in Jacobs Solutions Inc. $J

State of Michigan Retirement System lessened its position in shares of Jacobs Solutions Inc. (NYSE:J) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,699 shares of the company’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in Jacobs Solutions were worth $4,298,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Costello Asset Management INC purchased a new stake in Jacobs Solutions during the 2nd quarter valued at about $43,000. Moisand Fitzgerald Tamayo LLC purchased a new stake in Jacobs Solutions in the second quarter valued at $44,000. Colonial Trust Advisors purchased a new stake in Jacobs Solutions in the first quarter valued at $51,000. Ransom Advisory Ltd purchased a new stake in Jacobs Solutions in the second quarter valued at $53,000. Finally, Orion Capital Management LLC purchased a new stake in Jacobs Solutions in the second quarter valued at $64,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Jacobs Solutions in a research note on Wednesday, October 8th. KeyCorp upped their target price on Jacobs Solutions from $157.00 to $170.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Truist Financial upped their target price on Jacobs Solutions from $148.00 to $163.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. UBS Group upped their target price on Jacobs Solutions from $152.00 to $166.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Barclays upped their target price on Jacobs Solutions from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Jacobs Solutions Stock Performance

Shares of J stock opened at $154.38 on Wednesday. The company has a market capitalization of $18.45 billion, a P/E ratio of 38.50, a P/E/G ratio of 1.87 and a beta of 0.81. The business’s 50 day moving average is $151.95 and its two-hundred day moving average is $139.59. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.65. Jacobs Solutions Inc. has a 12-month low of $106.23 and a 12-month high of $168.44.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.09 billion. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%.Jacobs Solutions’s revenue for the quarter was down 28.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.96 earnings per share. Analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

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.