Bank of Montreal Can Sells 221,599 Shares of Jacobs Solutions Inc. $J

Bank of Montreal Can decreased its position in shares of Jacobs Solutions Inc. (NYSE:J) by 62.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 133,597 shares of the company’s stock after selling 221,599 shares during the period. Bank of Montreal Can’s holdings in Jacobs Solutions were worth $17,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in J. Telos Capital Management Inc. grew its stake in Jacobs Solutions by 0.6% in the second quarter. Telos Capital Management Inc. now owns 92,342 shares of the company’s stock worth $12,138,000 after purchasing an additional 537 shares during the period. EPG Wealth Management LLC boosted its holdings in shares of Jacobs Solutions by 3.8% during the 2nd quarter. EPG Wealth Management LLC now owns 4,669 shares of the company’s stock valued at $614,000 after buying an additional 169 shares in the last quarter. iA Global Asset Management Inc. purchased a new stake in shares of Jacobs Solutions in the 2nd quarter worth about $194,000. MUFG Securities EMEA plc bought a new position in shares of Jacobs Solutions in the 2nd quarter worth about $6,572,000. Finally, Great Lakes Retirement Inc. lifted its position in Jacobs Solutions by 7.7% during the 2nd quarter. Great Lakes Retirement Inc. now owns 17,096 shares of the company’s stock valued at $2,247,000 after acquiring an additional 1,215 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on J shares. Wall Street Zen cut shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Citigroup boosted their price target on Jacobs Solutions from $169.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jacobs Solutions in a research report on Wednesday, October 8th. Truist Financial boosted their target price on Jacobs Solutions from $148.00 to $163.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Finally, Barclays raised their price target on Jacobs Solutions from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Jacobs Solutions Stock Performance

J stock opened at $153.34 on Friday. The stock has a market capitalization of $18.33 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 1.87 and a beta of 0.83. Jacobs Solutions Inc. has a 12-month low of $106.23 and a 12-month high of $168.44. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.65. The stock’s 50 day simple moving average is $152.37 and its 200 day simple moving average is $140.07.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, August 5th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%.The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the company earned $1.96 EPS. The company’s quarterly revenue was down 28.4% compared to the same quarter last year. As a group, research analysts forecast that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

About Jacobs Solutions

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.