Jacobs Solutions Inc. $J Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,632,104 shares of the company’s stock after buying an additional 58,623 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Jacobs Solutions were worth $220,782,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Jacobs Solutions during the second quarter valued at approximately $1,372,610,000. Primecap Management Co. CA acquired a new position in Jacobs Solutions in the 2nd quarter valued at approximately $575,291,000. Bank of America Corp DE purchased a new stake in Jacobs Solutions in the 2nd quarter worth approximately $208,318,000. Caisse de depot et placement du Quebec purchased a new stake in Jacobs Solutions in the 2nd quarter worth approximately $118,783,000. Finally, Deutsche Bank AG purchased a new stake in Jacobs Solutions in the 2nd quarter worth approximately $83,490,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

J has been the subject of a number of research reports. UBS Group lifted their target price on shares of Jacobs Solutions from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Wall Street Zen downgraded shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Sunday, August 30th. Royal Bank Of Canada upped their price target on shares of Jacobs Solutions from $171.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded Jacobs Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, Truist Financial cut their price objective on Jacobs Solutions from $161.00 to $160.00 and set a “hold” rating for the company 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $156.78.

Jacobs Solutions Stock Up 0.9%

Shares of Jacobs Solutions stock opened at $148.80 on Friday. The firm has a market cap of $17.57 billion, a price-to-earnings ratio of 52.77, a P/E/G ratio of 1.87 and a beta of 0.68. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.29 and a quick ratio of 1.29. Jacobs Solutions Inc. has a 52-week low of $105.68 and a 52-week high of $162.00. The stock has a 50-day simple moving average of $144.10 and a 200-day simple moving average of $134.30.

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.