Jabil Circuit, Inc. (JBL) Position Raised by Chicago Equity Partners LLC

Chicago Equity Partners LLC boosted its position in shares of Jabil Circuit, Inc. (NYSE:JBL) by 315.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,845 shares of the technology company’s stock after purchasing an additional 141,140 shares during the period. Chicago Equity Partners LLC owned about 0.10% of Jabil Circuit worth $5,425,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Jabil Circuit by 9.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock worth $177,000 after acquiring an additional 547 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Jabil Circuit in the 1st quarter worth approximately $218,000. PNC Financial Services Group Inc. lifted its position in shares of Jabil Circuit by 1.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock worth $236,000 after purchasing an additional 109 shares during the period. Symphony Asset Management LLC purchased a new stake in shares of Jabil Circuit in the 1st quarter worth approximately $242,000. Finally, First Citizens Bank & Trust Co. lifted its position in shares of Jabil Circuit by 30.6% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 9,133 shares of the technology company’s stock worth $267,000 after purchasing an additional 2,141 shares during the period. Institutional investors own 93.00% of the company’s stock.

In related news, COO William D. Muir, Jr. sold 19,866 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $29.34, for a total transaction of $582,868.44. Following the transaction, the chief operating officer now directly owns 597,085 shares in the company, valued at $17,518,473.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark T. Mondello sold 30,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $29.57, for a total value of $887,100.00. Following the transaction, the chief executive officer now owns 1,937,619 shares in the company, valued at $57,295,393.83. The disclosure for this sale can be found here. Insiders have sold 170,387 shares of company stock worth $5,111,014 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

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Several equities research analysts have recently weighed in on JBL shares. ValuEngine raised shares of Jabil Circuit from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Royal Bank Of Canada upped their price target on shares of Jabil Circuit from $27.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 15th. UBS AG reaffirmed a “buy” rating and issued a $35.00 price target (up previously from $30.00) on shares of Jabil Circuit in a research report on Friday, June 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $37.00 target price on shares of Jabil Circuit in a research report on Friday, September 1st. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $29.31.

Jabil Circuit, Inc. (NYSE JBL) traded up 0.03% on Friday, hitting $30.72. 2,194,826 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $30.44 and its 200-day moving average price is $29.43. Jabil Circuit, Inc. has a 12-month low of $20.32 and a 12-month high of $31.70. The company has a market cap of $5.51 billion, a PE ratio of 47.26 and a beta of 0.55.

Jabil Circuit (NYSE:JBL) last released its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter last year, the company earned $0.17 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts forecast that Jabil Circuit, Inc. will post $2.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, August 11th. Jabil Circuit’s payout ratio is currently 50.00%.

Jabil Circuit announced that its board has initiated a share repurchase plan on Thursday, July 20th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

About Jabil Circuit

Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.

Institutional Ownership by Quarter for Jabil Circuit (NYSE:JBL)

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