First Trust Advisors LP Lowers Holdings in Jabil Inc (JBL)
First Trust Advisors LP trimmed its stake in Jabil Inc (NYSE:JBL) by 35.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 623,262 shares of the technology company’s stock after selling 346,591 shares during the period. First Trust Advisors LP’s holdings in Jabil were worth $16,573,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in JBL. Martingale Asset Management L P increased its stake in shares of Jabil by 24.9% in the first quarter. Martingale Asset Management L P now owns 345,940 shares of the technology company’s stock worth $9,199,000 after acquiring an additional 68,920 shares during the period. Barings LLC acquired a new stake in shares of Jabil in the first quarter worth $404,000. Commerce Bank acquired a new stake in shares of Jabil in the first quarter worth $210,000. JPMorgan Chase & Co. increased its stake in shares of Jabil by 47.3% in the first quarter. JPMorgan Chase & Co. now owns 1,084,776 shares of the technology company’s stock worth $28,844,000 after acquiring an additional 348,320 shares during the period. Finally, LSV Asset Management increased its stake in shares of Jabil by 6.0% in the first quarter. LSV Asset Management now owns 6,537,449 shares of the technology company’s stock worth $173,830,000 after acquiring an additional 371,247 shares during the period. 89.55% of the stock is owned by institutional investors.
NYSE:JBL opened at $24.59 on Monday. The firm has a market capitalization of $3.76 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 0.89 and a beta of 0.80. Jabil Inc has a 1-year low of $21.49 and a 1-year high of $31.50. The company has a current ratio of 1.02, a quick ratio of 0.60 and a debt-to-equity ratio of 1.34.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is presently 14.75%.
A number of analysts have recently weighed in on JBL shares. TheStreet upgraded shares of Jabil from a “c+” rating to a “b” rating in a research note on Monday, February 25th. Zacks Investment Research lowered shares of Jabil from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, Raymond James upgraded shares of Jabil from a “market perform” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $29.00.
In other Jabil news, CEO Alessandro Parimbelli sold 3,500 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $29.70, for a total transaction of $103,950.00. Following the transaction, the chief executive officer now directly owns 320,792 shares of the company’s stock, valued at $9,527,522.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Martha Brooks sold 10,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $30.22, for a total transaction of $302,200.00. Following the transaction, the director now directly owns 92,400 shares in the company, valued at $2,792,328. The disclosure for this sale can be found here. Insiders have sold 46,388 shares of company stock worth $1,389,530 over the last three months. 2.90% of the stock is currently owned by insiders.
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Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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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