Jacobs Solutions Inc. $J Stock Holdings Boosted by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Jacobs Solutions stake by 3.7% in the third quarter, adding 58,623 shares to bring its holdings to 1.63 million shares, valued at about $220.8 million.
• Institutional investors and hedge funds own 85.65% of Jacobs shares; several major firms, including BlackRock and Primecap, established new positions in the second quarter.
• Analysts’ consensus rating is Hold, with an average price target of $156.78; five analysts rate the stock Buy and six rate it Hold.

Pictet Asset Management Holding SA lifted its stake in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 3.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,632,104 shares of the company's stock after purchasing an additional 58,623 shares during the period. Pictet Asset Management Holding SA owned approximately 1.38% of Jacobs Solutions worth $220,782,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of analysts have commented on J shares. Citigroup upped their price objective on shares of Jacobs Solutions from $181.00 to $188.00 and gave the company a "buy" rating in a research note on Friday, October 23rd. UBS Group lifted their target price on shares of Jacobs Solutions from $156.00 to $167.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Royal Bank Of Canada lifted their target price on shares of Jacobs Solutions from $171.00 to $174.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of Jacobs Solutions from a "buy" rating to a "hold" rating in a report on Sunday, August 30th. Finally, Truist Financial cut their price target on shares of Jacobs Solutions from $161.00 to $160.00 and set a "hold" rating on the stock in a report on Monday, October 5th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Jacobs Solutions has a consensus rating of "Hold" and a consensus target price of $156.78.

Jacobs Solutions Stock Performance

Shares of Jacobs Solutions stock opened at $148.80 on Friday. The stock has a market cap of $17.57 billion, a PE ratio of 52.77, a price-to-earnings-growth ratio of 1.87 and a beta of 0.68. The business has a fifty day simple moving average of $144.10 and a 200-day simple moving average of $134.30. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.10. Jacobs Solutions Inc. has a 12 month low of $105.68 and a 12 month high of $162.00.

Jacobs Solutions Company Profile

Jacobs Solutions Inc is a global professional services company that provides consulting, advisory, engineering, design and project and program management services. Its work spans infrastructure, water, environmental services, transportation, energy and advanced facilities, including projects for life sciences and advanced manufacturing clients.

The company serves public- and private-sector clients in markets around the world. Founded in 1947 by Joseph J. Jacobs, the business grew from an engineering firm into a multinational services provider.

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