32,046 Shares in Jacobs Solutions Inc. $J Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 32,046 Jacobs Solutions shares in the third quarter, worth about $4.34 million. Institutional investors and hedge funds own 85.65% of the company’s stock.
• Analysts’ consensus rating is Hold, with an average price target of $156.78; five analysts rate the stock Buy and six rate it Hold.
• Jacobs reported quarterly EPS of $1.84, slightly above estimates, while revenue rose 8.3% year over year to $2.42 billion.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Jacobs Solutions Inc. (NYSE:J - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 32,046 shares of the company's stock, valued at approximately $4,335,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Jacobs Solutions during the second quarter worth $1,372,610,000. Primecap Management Co. CA bought a new position in Jacobs Solutions in the 2nd quarter valued at $575,291,000. Bank of America Corp DE bought a new position in Jacobs Solutions in the 2nd quarter valued at $208,318,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Jacobs Solutions during the 2nd quarter valued at $118,783,000. Finally, Amundi increased its position in shares of Jacobs Solutions by 4.0% during the 2nd quarter. Amundi now owns 883,673 shares of the company's stock valued at $111,328,000 after purchasing an additional 34,298 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on J. KeyCorp cut their price target on shares of Jacobs Solutions from $168.00 to $166.00 and set an "overweight" rating on the stock in a report on Thursday, October 15th. Weiss Ratings upgraded shares of Jacobs Solutions from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 17th. Truist Financial dropped their target price on shares of Jacobs Solutions from $161.00 to $160.00 and set a "hold" rating on the stock in a research note on Monday, October 5th. Wall Street Zen downgraded shares of Jacobs Solutions from a "buy" rating to a "hold" rating in a research report on Sunday, August 30th. Finally, UBS Group raised their price target on shares of Jacobs Solutions from $156.00 to $167.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Jacobs Solutions currently has an average rating of "Hold" and an average price target of $156.78.

Jacobs Solutions Price Performance

Jacobs Solutions stock traded up $1.26 during midday trading on Friday, hitting $148.80. 1,210,475 shares of the company's stock were exchanged, compared to its average volume of 907,461. The company has a market cap of $17.57 billion, a P/E ratio of 52.77, a PEG ratio of 2.01 and a beta of 0.68. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a 50-day moving average price of $144.10 and a two-hundred day moving average price of $134.30. Jacobs Solutions Inc. has a 52-week low of $105.68 and a 52-week high of $162.00.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.01. Jacobs Solutions had a return on equity of 23.96% and a net margin of 2.40%. The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.40 billion. During the same quarter last year, the firm posted $1.62 EPS. The company's revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Jacobs Solutions Inc. will post 7.24 earnings per share for the current year.

Jacobs Solutions Profile

Jacobs Solutions Inc NYSE: J is a global technical, professional and consulting services provider serving government and commercial clients. The company helps organizations plan, design, deliver and operate complex infrastructure and mission-critical programs, with expertise spanning advanced manufacturing, transportation, water, environmental services, energy, life sciences, space and national security.

Through its consulting and engineering operations, Jacobs provides services such as program and project management, engineering and design, architecture, environmental planning, digital solutions and operational support.

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