Dynamic Technology Lab Private Ltd acquired a new position in shares of Jabil Inc (NYSE:JBL) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 56,467 shares of the technology company’s stock, valued at approximately $1,529,000.
A number of other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA grew its stake in Jabil by 15.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 58,712 shares of the technology company’s stock valued at $1,624,000 after acquiring an additional 8,000 shares during the period. Aperio Group LLC grew its stake in Jabil by 6.4% in the second quarter. Aperio Group LLC now owns 94,134 shares of the technology company’s stock valued at $2,604,000 after acquiring an additional 5,674 shares during the period. TD Asset Management Inc. grew its stake in Jabil by 20.0% in the second quarter. TD Asset Management Inc. now owns 21,600 shares of the technology company’s stock valued at $597,000 after acquiring an additional 3,600 shares during the period. Wells Fargo & Company MN grew its stake in Jabil by 22.7% in the second quarter. Wells Fargo & Company MN now owns 2,280,837 shares of the technology company’s stock valued at $63,087,000 after acquiring an additional 422,627 shares during the period. Finally, LMR Partners LLP acquired a new stake in Jabil in the second quarter valued at approximately $209,000. 88.82% of the stock is currently owned by institutional investors.
In other news, CEO Alessandro Parimbelli sold 20,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $26.40, for a total value of $541,200.00. Following the transaction, the chief executive officer now owns 339,811 shares in the company, valued at $8,971,010.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark T. Mondello sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $30.01, for a total value of $900,300.00. Following the completion of the transaction, the chief executive officer now owns 1,801,889 shares in the company, valued at approximately $54,074,688.89. The disclosure for this sale can be found here. Insiders sold 78,330 shares of company stock worth $2,178,856 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.
JBL stock opened at $23.26 on Friday. Jabil Inc has a twelve month low of $23.04 and a twelve month high of $31.77. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.57 and a current ratio of 1.04. The company has a market capitalization of $3.95 billion, a PE ratio of 11.67 and a beta of 0.56.
Jabil (NYSE:JBL) last posted its earnings results on Tuesday, September 25th. The technology company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. Jabil had a return on equity of 16.56% and a net margin of 0.39%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same quarter last year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis.
The business also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.38%. Jabil’s dividend payout ratio is presently 14.75%.
A number of equities research analysts have commented on JBL shares. JPMorgan Chase & Co. reduced their price objective on Jabil from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. TheStreet cut Jabil from a “b-” rating to a “c+” rating in a research note on Tuesday, October 9th. ValuEngine raised Jabil from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Goldman Sachs Group raised Jabil from a “sell” rating to a “neutral” rating and set a $25.00 price objective for the company in a research note on Sunday, November 11th. Finally, Citigroup reduced their price objective on Jabil to $24.00 and set a “sell” rating for the company in a research note on Tuesday, November 27th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $29.75.
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Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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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