Mizuho Securities USA LLC Raises Stake in Jacobs Solutions Inc. (NYSE:J)

Jacobs Solutions, Inc. Stock Price Today

Jacobs Solutions, Inc. (NYSE: J) stock price has climbed by 1.67% today, reaching $113.90 per share as of 1:50 PM EST.

Mizuho Securities USA LLC Increases Stake

Mizuho Securities USA LLC has filed a 13G form with the Securities and Exchange Commission (SEC), revealing that it has increased its stake in Jacobs Solutions Inc. The firm now owns 1,805,867 shares, representing 5.04% of the company's outstanding common stock.

Positive Outlook for Jacobs Solutions

Mizuho Securities' move indicates a positive outlook for Jacobs Solutions, a leading provider of technical, professional, and construction services to various industries, including aerospace, defense, nuclear, and infrastructure.

The company has recently secured several significant contracts, including a $2 billion contract from the United States Air Force for the maintenance and modernization of nuclear weapons systems.

Jacobs Solutions' Financial Performance

Jacobs Solutions reported solid financial results for its fiscal 2023 first quarter, with revenue increasing by 8.5% year-over-year to $3.6 billion.

The company's backlog also remains strong, standing at $28 billion as of March 31, 2023, providing visibility into its future revenue stream.

Analysts' Recommendations

Several analysts have upgraded their ratings on Jacobs Solutions stock following the company's recent performance and contract wins.

For instance, Goldman Sachs raised its rating from "Neutral" to "Buy" with a target price of $125 per share, citing the company's strong backlog and growth prospects.

Conclusion

The increased stake by Mizuho Securities USA LLC and positive analyst recommendations suggest that Jacobs Solutions Inc. is well-positioned for continued growth and success.

Investors should keep a close eye on the company's upcoming earnings report and any further developments in its backlog and contract pipeline.