Lazard Asset Management LLC Purchases New Position in Jabil Inc. (NYSE:JBL)

Lazard Asset Management LLC purchased a new stake in shares of Jabil Inc. (NYSE:JBLGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,697 shares of the technology company’s stock, valued at approximately $138,000.

Several other hedge funds and other institutional investors also recently modified their holdings of JBL. Prospera Financial Services Inc purchased a new position in shares of Jabil during the first quarter valued at about $32,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Jabil in the first quarter worth about $34,000. Parallel Advisors LLC grew its holdings in Jabil by 212.6% in the second quarter. Parallel Advisors LLC now owns 669 shares of the technology company’s stock worth $34,000 after purchasing an additional 455 shares during the period. Zions Bancorporation N.A. purchased a new stake in Jabil in the first quarter worth about $40,000. Finally, Herold Advisors Inc. purchased a new stake in Jabil in the first quarter worth about $62,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Jabil Trading Down 0.2 %

Shares of NYSE JBL opened at $69.22 on Tuesday. The firm’s 50 day moving average price is $61.71 and its 200-day moving average price is $59.19. The company has a market cap of $9.32 billion, a PE ratio of 10.02, a P/E/G ratio of 0.80 and a beta of 1.36. Jabil Inc. has a 52-week low of $48.80 and a 52-week high of $72.11. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.57 and a current ratio of 1.02.

Jabil (NYSE:JBLGet Rating) last issued its quarterly earnings data on Tuesday, September 27th. The technology company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.20. The company had revenue of $9.03 billion for the quarter, compared to the consensus estimate of $8.40 billion. Jabil had a net margin of 2.98% and a return on equity of 42.59%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 earnings per share. On average, equities research analysts expect that Jabil Inc. will post 7.2 EPS for the current fiscal year.

Jabil declared that its board has authorized a stock buyback program on Tuesday, September 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Tuesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.46%. Jabil’s dividend payout ratio (DPR) is 4.63%.

Insider Activity at Jabil

In related news, CEO Steven D. Borges sold 19,695 shares of the stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $62.00, for a total transaction of $1,221,090.00. Following the transaction, the chief executive officer now owns 187,100 shares in the company, valued at $11,600,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Jabil news, CEO Steven D. Borges sold 19,695 shares of the stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $62.00, for a total value of $1,221,090.00. Following the transaction, the chief executive officer now directly owns 187,100 shares in the company, valued at $11,600,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Francis Mckay sold 7,979 shares of the stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $64.11, for a total transaction of $511,533.69. Following the completion of the transaction, the senior vice president now owns 53,781 shares in the company, valued at $3,447,899.91. The disclosure for this sale can be found here. Insiders have sold a total of 87,785 shares of company stock worth $5,655,878 over the last quarter. Company insiders own 2.59% of the company’s stock.

Analyst Ratings Changes

JBL has been the topic of a number of recent research reports. Raymond James cut their price objective on shares of Jabil from $80.00 to $72.00 in a report on Wednesday, September 28th. Credit Suisse Group initiated coverage on shares of Jabil in a report on Tuesday, August 16th. They issued an “outperform” rating and a $74.00 price objective on the stock. Finally, StockNews.com began coverage on shares of Jabil in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Three equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average target price of $74.40.

Jabil Profile

(Get Rating)

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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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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