Carmel Capital Management L.L.C. Purchases New Stake in Jacobs Solutions Inc. $J

Key Points

• Carmel Capital Management bought 59,558 Jacobs Solutions shares in the third quarter, worth about $8.1 million and representing roughly 0.05% of the company.
• Analyst views were mixed: five rated the stock a Buy and six a Hold, with an average rating of Hold and a consensus price target of $156.78.
• Jacobs slightly beat quarterly earnings and revenue estimates, reporting EPS of $1.84 and revenue of $2.42 billion; revenue rose 8.3% year over year.

Carmel Capital Management L.L.C. purchased a new stake in Jacobs Solutions Inc. (NYSE:J - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,558 shares of the company's stock, valued at approximately $8,056,000. Jacobs Solutions makes up approximately 1.9% of Carmel Capital Management L.L.C.'s holdings, making the stock its 22nd largest position. Carmel Capital Management L.L.C. owned approximately 0.05% of Jacobs Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Corient Private Wealth LP purchased a new position in shares of Jacobs Solutions during the second quarter valued at $5,225,000. Amundi increased its holdings in shares of Jacobs Solutions by 4.0% in 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 period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Jacobs Solutions in the 2nd quarter valued at about $37,046,000. Ancora Advisors LLC lifted its position in shares of Jacobs Solutions by 34.9% in the second quarter. Ancora Advisors LLC now owns 31,427 shares of the company's stock worth $3,960,000 after purchasing an additional 8,130 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Jacobs Solutions by 59.8% in the first quarter. NewEdge Advisors LLC now owns 44,267 shares of the company's stock worth $5,634,000 after purchasing an additional 16,571 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. 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 report on Monday, August 10th. Citigroup upped their price target on shares of Jacobs Solutions from $181.00 to $188.00 and gave the stock a "buy" rating in a research note on Friday, October 23rd. Weiss Ratings upgraded Jacobs Solutions from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 17th. Truist Financial lowered their target price on Jacobs Solutions from $161.00 to $160.00 and set a "hold" rating on the stock in a research note on Monday, October 5th. Finally, KeyCorp dropped their target price on Jacobs Solutions from $168.00 to $166.00 and set an "overweight" rating on the stock in a research report on Thursday, October 15th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Jacobs Solutions has an average rating of "Hold" and a consensus target price of $156.78.

Insider Buying and Selling at Jacobs Solutions

In other news, President Patrick Hill sold 17,201 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $144.10, for a total value of $2,478,664.10. Following the completion of the sale, the president directly owned 67,356 shares in the company, valued at approximately $9,705,999.60. The trade was a 20.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.48% of the company's stock.

Jacobs Solutions Stock Performance

J opened at $159.62 on Wednesday. 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 company has a market cap of $18.85 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.68. The stock has a 50-day moving average of $144.03 and a 200-day moving average of $134.10. Jacobs Solutions Inc. has a 52-week low of $105.68 and a 52-week high of $161.59.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.84 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company earned $1.62 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Jacobs Solutions Inc. will post 7.24 earnings per share for the current fiscal year.

Jacobs Solutions Company 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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