Crossmark Global Holdings Inc. acquired a new stake in Jabil Circuit, Inc. (NYSE:JBL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,256 shares of the technology company’s stock, valued at approximately $835,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in JBL. PNC Financial Services Group Inc. raised its position in Jabil Circuit by 17.2% in the second quarter. PNC Financial Services Group Inc. now owns 9,607 shares of the technology company’s stock valued at $281,000 after purchasing an additional 1,413 shares during the period. Legal & General Group Plc boosted its stake in shares of Jabil Circuit by 5.0% during the second quarter. Legal & General Group Plc now owns 914,334 shares of the technology company’s stock worth $26,688,000 after buying an additional 43,628 shares during the period. Chicago Equity Partners LLC boosted its stake in shares of Jabil Circuit by 315.7% during the second quarter. Chicago Equity Partners LLC now owns 185,845 shares of the technology company’s stock worth $5,425,000 after buying an additional 141,140 shares during the period. Martingale Asset Management L P boosted its stake in shares of Jabil Circuit by 62.0% during the second quarter. Martingale Asset Management L P now owns 249,995 shares of the technology company’s stock worth $7,298,000 after buying an additional 95,635 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of Jabil Circuit by 0.4% during the first quarter. Teachers Advisors LLC now owns 502,040 shares of the technology company’s stock worth $14,519,000 after buying an additional 2,138 shares during the period. Hedge funds and other institutional investors own 93.81% of the company’s stock.
Several research analysts recently issued reports on the stock. ValuEngine raised shares of Jabil Circuit from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 7th. Citigroup Inc. reaffirmed a “sell” rating and issued a $28.00 target price on shares of Jabil Circuit in a report on Thursday, September 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $37.00 target price on shares of Jabil Circuit in a report on Friday, September 1st. Zacks Investment Research raised shares of Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a report on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 target price on shares of Jabil Circuit in a report on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $30.50.
Jabil Circuit, Inc. (NYSE JBL) opened at $28.61 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.69. The firm has a market cap of $5,053.76, a price-to-earnings ratio of 15.38, a P/E/G ratio of 1.07 and a beta of 0.53. Jabil Circuit, Inc. has a 1-year low of $20.32 and a 1-year high of $31.70.
Jabil Circuit (NYSE:JBL) last posted its earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.86 billion. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 EPS. research analysts forecast that Jabil Circuit, Inc. will post 2.22 earnings per share for the current fiscal year.
Jabil Circuit declared that its board has approved a stock buyback plan on Thursday, July 20th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.12%. Jabil Circuit’s payout ratio is 46.38%.
In other news, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $31.32, for a total value of $939,600.00. Following the completion of the sale, the chief executive officer now owns 1,877,619 shares of the company’s stock, valued at approximately $58,807,027.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Erich Hoch sold 2,500 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $28.49, for a total transaction of $71,225.00. Following the completion of the sale, the chief executive officer now directly owns 206,943 shares of the company’s stock, valued at approximately $5,895,806.07. The disclosure for this sale can be found here. Insiders have sold a total of 127,680 shares of company stock worth $3,721,246 in the last 90 days. Company insiders own 2.90% of the company’s stock.
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Jabil Circuit Profile
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.
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