Eastern Bank Sells 1,559 Shares of Jacobs Solutions Inc. (NYSE:J)

Eastern Bank trimmed its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,568 shares of the company’s stock after selling 1,559 shares during the quarter. Eastern Bank’s holdings in Jacobs Solutions were worth $13,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 during the period. Quarry LP lifted its stake in shares of Jacobs Solutions by 394.9% in the 3rd quarter. Quarry LP now owns 292 shares of the company’s stock valued at $38,000 after purchasing an additional 233 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Jacobs Solutions in the 3rd quarter valued at approximately $42,000. True Wealth Design LLC purchased a new position in shares of Jacobs Solutions in the 3rd quarter valued at approximately $44,000. Finally, GAMMA Investing LLC lifted its stake in shares of Jacobs Solutions by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock valued at $53,000 after purchasing an additional 145 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 research analysts have recently commented on the company. Raymond James upgraded Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a research note on Friday, October 4th. StockNews.com assumed coverage on Jacobs Solutions in a research note on Wednesday, December 4th. They set a “hold” rating for the company. Citigroup lowered their price objective 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. The Goldman Sachs Group reiterated a “neutral” rating and set a $150.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $152.00 price objective on shares of Jacobs Solutions in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.11.

Jacobs Solutions Stock Performance

Shares of J traded up $1.61 during trading hours on Monday, hitting $133.96. The stock had a trading volume of 327,991 shares, compared to its average volume of 584,166. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.20 and a quick ratio of 1.20. Jacobs Solutions Inc. has a 12 month low of $108.19 and a 12 month high of $150.54. The firm has a market capitalization of $16.61 billion, a PE ratio of 21.16, a PEG ratio of 2.07 and a beta of 0.72. The stock has a fifty day moving average price of $137.66 and a 200 day moving average price of $141.58.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, November 19th. The company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.71). The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. Jacobs Solutions’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 earnings per share. Analysts anticipate 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.