Norges Bank Acquires New Position in Jabil, Inc. $JBL

Norges Bank acquired a new stake in Jabil, Inc. (NYSE:JBL) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,786,241 shares of the technology company’s stock, valued at approximately $407,299,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. bought a new stake in Jabil in the 4th quarter valued at about $3,792,000. Hillsdale Investment Management Inc. bought a new stake in Jabil in the 4th quarter valued at about $935,000. National Pension Service raised its stake in Jabil by 582.6% in the 4th quarter. National Pension Service now owns 224,903 shares of the technology company’s stock valued at $51,282,000 after acquiring an additional 191,956 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new stake in Jabil in the 4th quarter valued at about $258,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its stake in Jabil by 773.3% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 75,976 shares of the technology company’s stock valued at $17,324,000 after acquiring an additional 67,276 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Insider Activity at Jabil

In other news, CEO Michael Dastoor sold 9,467 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $286.64, for a total transaction of $2,713,620.88. Following the completion of the transaction, the chief executive officer owned 253,099 shares of the company’s stock, valued at approximately $72,548,297.36. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP May Yee Yap sold 1,634 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $306.74, for a total value of $501,213.16. Following the transaction, the senior vice president directly owned 23,787 shares of the company’s stock, valued at $7,296,424.38. The trade was a 6.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,981 shares of company stock valued at $11,360,740 in the last ninety days. Insiders own 1.35% of the company’s stock.

Jabil Trading Down 1.4%

Shares of JBL opened at $359.64 on Tuesday. Jabil, Inc. has a twelve month low of $164.69 and a twelve month high of $381.94. The company has a quick ratio of 0.68, a current ratio of 1.01 and a debt-to-equity ratio of 2.50. The stock has a market cap of $37.94 billion, a PE ratio of 48.27, a P/E/G ratio of 1.89 and a beta of 1.28. The business’s 50-day moving average price is $320.76 and its 200-day moving average price is $266.39.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Wednesday, March 18th. The technology company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.51 by $0.18. Jabil had a return on equity of 80.96% and a net margin of 2.48%.The company had revenue of $8.28 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the previous year, the firm earned $1.94 earnings per share. Jabil’s revenue was up 23.1% on a year-over-year basis. On average, equities analysts forecast that Jabil, Inc. will post 11.3 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Friday, May 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.1%. Jabil’s payout ratio is presently 4.30%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays boosted their price objective on Jabil from $283.00 to $304.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. UBS Group boosted their price objective on Jabil from $244.00 to $254.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Bank of America boosted their price objective on Jabil from $295.00 to $354.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Wall Street Zen cut Jabil from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Zacks Research cut Jabil from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $303.38.

Jabil Company Profile

Jabil Inc (NYSE: JBL) is a global manufacturing solutions provider specializing in electronic manufacturing services (EMS) and diversified products across a wide range of industries. The company partners with original equipment manufacturers to deliver design engineering, supply chain management, precision manufacturing, and aftermarket services. Jabil’s expertise spans sectors such as healthcare, automotive, clean technology, telecommunications, consumer electronics, and packaging, enabling it to support both high-volume production and complex, mission-critical applications.

Founded in 1966 by William E.