Jacobs Solutions Inc. (NYSE:J) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in Jacobs Solutions Inc. (NYSE:J) by 4.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 145,574 shares of the company’s stock after buying an additional 5,959 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Jacobs Solutions worth $19,056,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. First Horizon Advisors Inc. lifted its holdings in Jacobs Solutions by 44.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Hudson Edge Investment Partners Inc. lifted its stake in shares of Jacobs Solutions by 1.4% in the second quarter. Hudson Edge Investment Partners Inc. now owns 5,967 shares of the company’s stock worth $834,000 after acquiring an additional 82 shares in the last quarter. Empirical Finance LLC lifted its stake in shares of Jacobs Solutions by 1.9% in the third quarter. Empirical Finance LLC now owns 4,358 shares of the company’s stock worth $570,000 after acquiring an additional 82 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in Jacobs Solutions by 4.0% in the third quarter. OneDigital Investment Advisors LLC now owns 2,239 shares of the company’s stock valued at $293,000 after purchasing an additional 86 shares during the last quarter. Finally, Gabelli Funds LLC grew its stake in Jacobs Solutions by 6.9% during the 2nd quarter. Gabelli Funds LLC now owns 1,550 shares of the company’s stock valued at $217,000 after purchasing an additional 100 shares in the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on J. StockNews.com started coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They set a “hold” rating for the company. Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Raymond James upgraded shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 target price on the stock in a research note on Friday, October 4th. Citigroup decreased their price target on Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, November 20th. Finally, Truist Financial upped their price objective on Jacobs Solutions from $137.00 to $142.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Jacobs Solutions currently has a consensus rating of “Hold” and an average target price of $156.11.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $136.24 on Friday. Jacobs Solutions Inc. has a 1-year low of $104.90 and a 1-year high of $150.54. The firm has a market capitalization of $16.90 billion, a PE ratio of 21.52, a P/E/G ratio of 2.04 and a beta of 0.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 1.20. The business’s fifty day moving average price is $139.51 and its two-hundred day moving average price is $142.09.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, November 19th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.71). The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $4.50 billion. Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 earnings per share. On average, research analysts expect that Jacobs Solutions Inc. will post 6.06 EPS for the current year.

Jacobs Solutions Company Profile

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.