Jabil Circuit, Inc. (JBL) Holdings Increased by Vanguard Group Inc.
Vanguard Group Inc. grew its holdings in Jabil Circuit, Inc. (NYSE:JBL) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,967,548 shares of the technology company’s stock after purchasing an additional 134,408 shares during the period. Vanguard Group Inc. owned about 7.79% of Jabil Circuit worth $407,712,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in Jabil Circuit by 5.0% in the second quarter. Legal & General Group Plc now owns 914,334 shares of the technology company’s stock worth $26,688,000 after purchasing an additional 43,628 shares during the period. Chicago Equity Partners LLC increased its stake in Jabil Circuit by 315.7% in the second quarter. Chicago Equity Partners LLC now owns 185,845 shares of the technology company’s stock worth $5,425,000 after purchasing an additional 141,140 shares during the period. Martingale Asset Management L P increased its stake in Jabil Circuit by 62.0% in the second quarter. Martingale Asset Management L P now owns 249,995 shares of the technology company’s stock worth $7,298,000 after purchasing an additional 95,635 shares during the period. Teachers Advisors LLC increased its stake in Jabil Circuit by 0.4% in the first quarter. Teachers Advisors LLC now owns 502,040 shares of the technology company’s stock worth $14,519,000 after purchasing an additional 2,138 shares during the period. Finally, PGGM Investments increased its stake in Jabil Circuit by 2.7% in the second quarter. PGGM Investments now owns 113,091 shares of the technology company’s stock worth $3,301,000 after purchasing an additional 3,006 shares during the period. Institutional investors and hedge funds own 93.05% of the company’s stock.
Jabil Circuit, Inc. (NYSE:JBL) opened at 29.77 on Friday. Jabil Circuit, Inc. has a 52 week low of $20.32 and a 52 week high of $31.70. The stock’s 50 day moving average price is $30.13 and its 200 day moving average price is $29.73. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 45.80 and a beta of 0.59.
Jabil Circuit (NYSE:JBL) last posted its quarterly earnings data on Wednesday, September 27th. The technology company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm had revenue of $5.02 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 EPS. On average, analysts forecast that Jabil Circuit, Inc. will post $2.59 earnings per share for the current year.
Jabil Circuit announced that its Board of Directors has authorized a stock buyback program on Thursday, July 20th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other Jabil Circuit news, CEO Mark T. Mondello sold 30,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $31.32, for a total transaction of $939,600.00. Following the sale, the chief executive officer now owns 1,877,619 shares in the company, valued at approximately $58,807,027.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 90,521 shares of company stock worth $2,740,446. 2.90% of the stock is owned by company insiders.
A number of analysts have weighed in on JBL shares. J P Morgan Chase & Co reiterated a “buy” rating and issued a $40.00 target price on shares of Jabil Circuit in a research note on Thursday, September 28th. ValuEngine lowered Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Monday. BidaskClub lowered Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research upgraded Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research note on Monday. Finally, Bank of America Corporation lowered Jabil Circuit from a “buy” rating to a “neutral” rating in a research note on Monday, September 25th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Jabil Circuit currently has an average rating of “Hold” and an average price target of $30.50.
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About Jabil Circuit
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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