Merit Financial Group LLC Invests $368,000 in Jacobs Solutions Inc. (NYSE:J)

Merit Financial Group LLC bought a new stake in Jacobs Solutions Inc. (NYSE:J) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,753 shares of the company’s stock, valued at approximately $368,000.

Several other hedge funds and other institutional investors also recently modified their holdings of J. Geode Capital Management LLC lifted its holdings in shares of Jacobs Solutions by 2.4% in the third quarter. Geode Capital Management LLC now owns 3,145,665 shares of the company’s stock worth $410,444,000 after acquiring an additional 73,566 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Jacobs Solutions by 3.2% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,040,032 shares of the company’s stock worth $143,263,000 after purchasing an additional 32,650 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Jacobs Solutions by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 760,516 shares of the company’s stock valued at $99,552,000 after purchasing an additional 14,405 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Jacobs Solutions by 19.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 650,110 shares of the company’s stock valued at $85,099,000 after buying an additional 107,849 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Jacobs Solutions by 28.1% during the third quarter. Thrivent Financial for Lutherans now owns 537,015 shares of the company’s stock worth $70,296,000 after buying an additional 117,940 shares during the last quarter. Institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Performance

Shares of Jacobs Solutions stock opened at $140.82 on Friday. The business has a 50-day moving average price of $136.51 and a two-hundred day moving average price of $141.55. Jacobs Solutions Inc. has a 1-year low of $110.95 and a 1-year high of $150.54. The company has a market cap of $17.46 billion, a P/E ratio of 22.25, a PEG ratio of 2.14 and a beta of 0.72. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.30.

Jacobs Solutions (NYSE:J) last posted its quarterly 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). Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. Jacobs Solutions’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, analysts anticipate that Jacobs Solutions Inc. will post 6.06 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup dropped 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. 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. StockNews.com initiated coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. Benchmark cut shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $150.00 target price on shares of Jacobs Solutions in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.11.

Jacobs Solutions 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.