Hanseatic Management Services Inc. Sells 37,736 Shares of Jabil Circuit, Inc. (JBL)
Hanseatic Management Services Inc. lowered its position in shares of Jabil Circuit, Inc. (NYSE:JBL) by 62.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,260 shares of the technology company’s stock after selling 37,736 shares during the quarter. Hanseatic Management Services Inc.’s holdings in Jabil Circuit were worth $636,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in JBL. PNC Financial Services Group Inc. boosted its holdings in shares of Jabil Circuit by 1.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock valued at $236,000 after buying an additional 109 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Jabil Circuit by 142.6% in the 2nd quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after buying an additional 211 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Jabil Circuit by 9.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock valued at $177,000 after buying an additional 547 shares during the last quarter. Colonial Trust Advisors boosted its holdings in shares of Jabil Circuit by 4.1% in the 2nd quarter. Colonial Trust Advisors now owns 15,400 shares of the technology company’s stock valued at $450,000 after buying an additional 600 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Jabil Circuit by 1.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 54,550 shares of the technology company’s stock valued at $1,592,000 after buying an additional 831 shares during the last quarter. 93.81% of the stock is owned by hedge funds and other institutional investors.
In other Jabil Circuit news, CEO Mark T. Mondello sold 30,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $29.02, for a total transaction of $870,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President William E. Peters sold 3,580 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $28.74, for a total value of $102,889.20. 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 quarter. Company insiders own 2.90% of the company’s stock.
Shares of Jabil Circuit, Inc. (NYSE:JBL) traded up $0.03 during trading on Wednesday, reaching $28.69. The company’s stock had a trading volume of 1,867,100 shares, compared to its average volume of 1,886,570. Jabil Circuit, Inc. has a fifty-two week low of $20.32 and a fifty-two week high of $31.70. The firm has a market cap of $5,062.59, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.08 and a beta of 0.53. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.69.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.86 billion. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. sell-side analysts expect that Jabil Circuit, Inc. will post 2.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, November 14th. Jabil Circuit’s payout ratio is 46.38%.
Jabil Circuit declared that its board has authorized a stock repurchase program on Thursday, July 20th that permits the company to buyback $450.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have recently commented on JBL shares. J P Morgan Chase & Co started coverage on Jabil Circuit in a report on Wednesday, August 2nd. They issued an “overweight” rating and a $40.00 price objective for the company. BidaskClub downgraded Jabil Circuit from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Needham & Company LLC reissued a “buy” rating and issued a $37.00 price objective on shares of Jabil Circuit in a report on Friday, September 1st. ValuEngine raised Jabil Circuit from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 7th. Finally, Bank of America Corporation downgraded Jabil Circuit from a “buy” rating to a “neutral” rating in a report on Monday, September 25th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.50.
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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