Mirae Asset Global Investments Co. Ltd. Acquires 32,046 Shares of Jacobs Solutions Inc. $J

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Jacobs Solutions Inc. (NYSE:J) in the third quarter, Holdings Channel.com reports. The fund acquired 32,046 shares of the company’s stock, valued at approximately $4,335,000.

Other hedge funds also recently made changes to their positions in the company. SFE Investment Counsel lifted its stake in Jacobs Solutions by 2.6% during the third quarter. SFE Investment Counsel now owns 77,064 shares of the company’s stock worth $10,424,000 after purchasing an additional 1,977 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Jacobs Solutions by 0.6% in the 3rd quarter. ProShare Advisors LLC now owns 18,360 shares of the company’s stock worth $2,484,000 after purchasing an additional 116 shares in the last quarter. Investment Partners LTD. boosted its holdings in shares of Jacobs Solutions by 78.2% in the 3rd quarter. Investment Partners LTD. now owns 3,222 shares of the company’s stock worth $436,000 after purchasing an additional 1,414 shares in the last quarter. Everett Harris & Co. CA increased its position in shares of Jacobs Solutions by 2.1% during the 3rd quarter. Everett Harris & Co. CA now owns 158,081 shares of the company’s stock valued at $21,384,000 after purchasing an additional 3,266 shares during the last quarter. Finally, United Asset Strategies Inc. increased its position in shares of Jacobs Solutions by 1.7% during the 3rd quarter. United Asset Strategies Inc. now owns 20,774 shares of the company’s stock valued at $2,810,000 after purchasing an additional 349 shares during the last quarter. 85.65% of the stock is owned by institutional investors.

Jacobs Solutions Trading Up 0.9%

Shares of J traded up $1.26 during trading hours on Friday, hitting $148.80. The company had a trading volume of 1,210,475 shares, compared to its average volume of 907,461. The firm has a market cap of $17.57 billion, a P/E ratio of 52.77, a P/E/G ratio of 2.01 and a beta of 0.68. The stock’s 50 day moving average price is $144.10 and its 200 day moving average price is $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 52-week low of $105.68 and a 52-week high of $162.00.

Jacobs Solutions (NYSE:J) last issued its 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 company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the business posted $1.62 EPS. Jacobs Solutions’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts predict that Jacobs Solutions Inc. will post 7.24 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on J shares. Wall Street Zen cut Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Sunday, August 30th. Weiss Ratings raised Jacobs Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Citigroup increased their price target on shares of Jacobs Solutions from $181.00 to $188.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Truist Financial cut their price objective on shares of Jacobs Solutions from $161.00 to $160.00 and set a “hold” rating for the company in a research note on Monday, October 5th. Finally, KeyCorp reduced their target price 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. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $156.78.

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.