PNC Financial Services Group Inc. lowered its stake in shares of Jabil Inc. (NYSE:JBL – Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,125 shares of the technology company’s stock after selling 1,754 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Jabil were worth $4,348,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in JBL. FMR LLC raised its position in Jabil by 15.9% in the third quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock worth $1,335,528,000 after purchasing an additional 1,440,857 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Jabil by 0.7% in the 3rd quarter. Wellington Management Group LLP now owns 5,392,355 shares of the technology company’s stock worth $684,236,000 after buying an additional 36,560 shares in the last quarter. Norges Bank bought a new position in shares of Jabil during the 4th quarter worth approximately $192,964,000. Northern Trust Corp grew its stake in Jabil by 13.8% during the third quarter. Northern Trust Corp now owns 1,162,838 shares of the technology company’s stock worth $147,553,000 after buying an additional 141,383 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Jabil by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,111,281 shares of the technology company’s stock valued at $141,577,000 after purchasing an additional 249,889 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.
Jabil Stock Up 0.7 %
NYSE:JBL opened at $119.60 on Friday. Jabil Inc. has a twelve month low of $85.73 and a twelve month high of $156.94. The firm has a market capitalization of $14.42 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 1.47 and a beta of 1.42. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. The stock’s 50 day moving average price is $125.29 and its two-hundred day moving average price is $129.18.
Jabil (NYSE:JBL – Get Free Report) last announced its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). Jabil had a net margin of 4.70% and a return on equity of 39.47%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.91 billion. Equities research analysts expect that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.
Jabil Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. Jabil’s payout ratio is 2.75%.
Analyst Upgrades and Downgrades
JBL has been the subject of a number of research reports. Barclays lowered their price objective on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, March 18th. The Goldman Sachs Group lifted their price objective on Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Argus cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Jabil has an average rating of “Buy” and a consensus price target of $144.50.
Get Our Latest Stock Report on JBL
Insider Transactions at Jabil
In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the completion of the transaction, the chief executive officer now directly owns 339,725 shares in the company, valued at $45,591,095. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Jabil news, EVP Gerald Creadon sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total value of $406,860.00. Following the completion of the transaction, the executive vice president now directly owns 65,434 shares in the company, valued at approximately $8,874,159.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the completion of the sale, the chief executive officer now directly owns 339,725 shares in the company, valued at approximately $45,591,095. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,877 shares of company stock valued at $9,824,383. 2.62% of the stock is owned by corporate insiders.
Jabil Company Profile
Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).
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Source: defenseworld.net
