Montecito Bank & Trust Buys 280 Shares of Jacobs Solutions Inc. (NYSE:J)

Montecito Bank & Trust grew its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 17.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,926 shares of the company’s stock after acquiring an additional 280 shares during the period. Montecito Bank & Trust’s holdings in Jacobs Solutions were worth $257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC raised its position in shares of Jacobs Solutions by 7.9% in the second quarter. ProShare Advisors LLC now owns 18,427 shares of the company’s stock worth $2,574,000 after buying an additional 1,342 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Jacobs Solutions by 6.9% in the 2nd quarter. Gabelli Funds LLC now owns 1,550 shares of the company’s stock valued at $217,000 after acquiring an additional 100 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Jacobs Solutions by 66.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 4,705 shares of the company’s stock valued at $657,000 after acquiring an additional 1,878 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Jacobs Solutions by 59.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 24,065 shares of the company’s stock valued at $3,362,000 after acquiring an additional 8,984 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Jacobs Solutions by 24.9% during the second quarter. AQR Capital Management LLC now owns 507,564 shares of the company’s stock worth $70,912,000 after purchasing an additional 101,043 shares in the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Jacobs Solutions from $147.00 to $149.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. StockNews.com assumed coverage on shares of Jacobs Solutions in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $152.00 price target on shares of Jacobs Solutions in a research report on Tuesday, December 3rd. Raymond James upgraded Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a report on Friday, October 4th. Finally, Citigroup decreased their price objective on Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.11.

Jacobs Solutions Stock Performance

NYSE:J opened at $140.82 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.30. Jacobs Solutions Inc. has a twelve month low of $110.95 and a twelve month high of $150.54. The stock has a market cap of $17.46 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 2.14 and a beta of 0.72. The firm’s fifty day simple moving average is $136.51 and its 200 day simple moving average is $141.55.

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