Top 5 Stock Picks of John Zaro’s Bourgeon Capital

3. Jacobs Engineering Group Inc. (NYSE:J)

Bourgeon Capital’s Stake Value: $14,076,000

Percentage of Bourgeon Capital’s 13F Portfolio: 3.72%

Number of Hedge Fund Holders: 28

Founded in 1947, Dallas, Texas-based Jacobs Engineering Group Inc. (NYSE:J) is a global professional services provider focused on providing consulting, technical, scientific and project delivery services for the government and private sector. With operations in more than 50 countries, its focus areas include advanced manufacturing, cities and places, energy and environment, health and life sciences, infrastructure, security, and space.

Bourgeon Capital holds 110,719 shares of Jacobs Engineering Group Inc. (NYSE:J), making up for 3.72% of the hedge fund’s 13F portfolio and ranks #3 based on the portfolio weight. Bourgeon Capital’s stake increased by 1% in 2Q 2022, compared to the previous quarter.

In first week of August, Jacobs Engineering Group Inc. (NYSE:J) released the financial results for Q3 2022 ended July 1, 2022. Its revenue increased by 7% y-o-y to $3.8 billion, while its net income increased by 19% y-o-y to $ 196 million. It reported a normalized EPS of $1.86, beating consensus by $0.06.

Following the earnings release, Citi analyst Andrew Kaplowitz and Credit Suisse analyst Jamie Cook lowered the price target on Jacobs to $151 and $154, respectively, maintaining their respective ‘Buy’ and ‘Outperform’ rating on the shares.

According to Insider Monkey data on almost 900 hedge funds, 28 hedge funds held shares of Jacobs Engineering Group Inc. (NYSE:J) valued at $947.2 million.