King Luther Capital Management Corp Reduces Holdings in Jacobs Solutions Inc. $J

King Luther Capital Management Corp reduced its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 25.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,144 shares of the company’s stock after selling 1,419 shares during the quarter. King Luther Capital Management Corp’s holdings in Jacobs Solutions were worth $545,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Costello Asset Management INC purchased a new position in shares of Jacobs Solutions during the second quarter worth about $43,000. Moisand Fitzgerald Tamayo LLC purchased a new position in Jacobs Solutions during the 2nd quarter worth approximately $44,000. Ransom Advisory Ltd acquired a new position in Jacobs Solutions during the second quarter worth approximately $53,000. Colonial Trust Advisors acquired a new position in Jacobs Solutions during the first quarter worth approximately $51,000. Finally, True Wealth Design LLC lifted its stake in Jacobs Solutions by 30.7% in the second quarter. True Wealth Design LLC now owns 447 shares of the company’s stock valued at $59,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.

Jacobs Solutions Stock Up 0.2%

Shares of NYSE:J opened at $154.52 on Wednesday. Jacobs Solutions Inc. has a fifty-two week low of $106.23 and a fifty-two week high of $168.44. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.65. The firm’s 50-day simple moving average is $152.71 and its 200-day simple moving average is $140.82. The company has a market cap of $18.47 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 1.87 and a beta of 0.83.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on J shares. UBS Group raised their target price on shares of Jacobs Solutions from $152.00 to $166.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Barclays upped their target price on shares of Jacobs Solutions from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Citigroup increased their target price on shares of Jacobs Solutions from $169.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Truist Financial boosted their price target on Jacobs Solutions from $148.00 to $163.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jacobs Solutions in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

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.