Conestoga Capital Advisors LLC Sells 19,510 Shares of JBT Marel Corporation $JBTM

Conestoga Capital Advisors LLC reduced its stake in shares of JBT Marel Corporation (NYSE:JBTM – Free Report) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,250 shares of the company’s stock after selling 19,510 shares during the quarter. Conestoga Capital Advisors LLC owned about 0.27% of JBT Marel worth $14,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in JBT Marel during the 2nd quarter worth $1,150,221,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in JBT Marel by 8.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,818,441 shares of the company’s stock valued at $263,674,000 after buying an additional 143,049 shares during the last quarter. Bamco Inc. NY acquired a new stake in shares of JBT Marel in the 2nd quarter valued at $95,781,000. Bank of America Corp DE increased its stake in shares of JBT Marel by 2.3% in the 1st quarter. Bank of America Corp DE now owns 466,741 shares of the company’s stock valued at $59,682,000 after buying an additional 10,714 shares during the period. Finally, William Blair Investment Management LLC bought a new stake in shares of JBT Marel during the second quarter worth $67,480,000. Institutional investors and hedge funds own 98.92% of the company’s stock.

Wall Street Analyst Weigh In

JBTM has been the topic of several research reports. KeyCorp assumed coverage on JBT Marel in a research note on Tuesday, August 25th. They set an “overweight” rating and a $150.00 price target on the stock. Robert W. Baird lowered their price objective on JBT Marel from $188.00 to $171.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Weiss Ratings reissued a “hold (c)” rating on shares of JBT Marel in a report on Wednesday, September 2nd. Finally, Barclays began coverage on shares of JBT Marel in a research report on Tuesday, September 8th. They set an “overweight” rating and a $150.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.20.

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JBT Marel Trading Up 6.9%

NYSE JBTM opened at $126.26 on Thursday. JBT Marel Corporation has a 12 month low of $102.97 and a 12 month high of $170.19. The stock has a 50-day simple moving average of $111.14 and a 200 day simple moving average of $130.70. The company has a current ratio of 1.29, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $6.55 billion, a PE ratio of 33.67, a P/E/G ratio of 1.30 and a beta of 0.93.

JBT Marel (NYSE:JBTM – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.10. The firm had revenue of $994.00 million for the quarter. JBT Marel had a return on equity of 9.00% and a net margin of 5.00%. Research analysts forecast that JBT Marel Corporation will post 8.04 EPS for the current year.

JBT Marel Company Profile

(Free Report)

JBT Marel Corporation (NYSE: JBTM) is a global food processing technology company formed through the combination of JBT Corporation and Marel. The company develops, manufactures and services equipment, integrated production lines and software used throughout the food industry, from primary processing to packaging and related automation.

Its products and solutions support the processing of poultry, meat, fish, prepared foods, pet food, plant-based products, fruits and vegetables, and other food categories.

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Institutional Ownership by Quarter for JBT Marel (NYSE:JBTM)

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