Ascent Group LLC Has $315,000 Stake in Jabil Inc. (NYSE:JBL)

Ascent Group LLC reduced its holdings in shares of Jabil Inc. (NYSE:JBL) by 21.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,630 shares of the technology company’s stock after selling 698 shares during the period. Ascent Group LLC’s holdings in Jabil were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Van ECK Associates Corp boosted its position in shares of Jabil by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock valued at $195,000 after acquiring an additional 90 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Jabil by 2.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock valued at $387,000 after acquiring an additional 91 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in shares of Jabil by 3.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company’s stock valued at $376,000 after acquiring an additional 105 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Jabil by 15.3% during the 2nd quarter. GAMMA Investing LLC now owns 797 shares of the technology company’s stock valued at $87,000 after acquiring an additional 106 shares in the last quarter. Finally, Richard P Slaughter Associates Inc boosted its position in shares of Jabil by 0.7% during the 3rd quarter. Richard P Slaughter Associates Inc now owns 17,624 shares of the technology company’s stock valued at $2,112,000 after acquiring an additional 120 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JBL has been the topic of several recent research reports. Barclays lifted their target price on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Stifel Nicolaus lifted their price target on shares of Jabil from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America lifted their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. cut their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, StockNews.com raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.17.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the transaction, the executive vice president now owns 108,753 shares in the company, valued at approximately $12,908,981.10. The trade was a 3.55 % 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 this link. Also, SVP Francis Mckay sold 11,755 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the sale, the senior vice president now directly owns 41,507 shares in the company, valued at approximately $5,051,816.97. This represents a 22.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock worth $5,377,431 in the last quarter. 2.62% of the stock is owned by company insiders.

Jabil Trading Up 0.7 %

Shares of NYSE JBL opened at $136.44 on Thursday. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The company has a market cap of $15.40 billion, a PE ratio of 12.38, a P/E/G ratio of 1.59 and a beta of 1.25. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The company has a 50-day moving average of $127.20 and a two-hundred day moving average of $116.67.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter in the previous year, the company earned $2.34 EPS. Jabil’s revenue was down 17.7% on a year-over-year basis. As a group, equities analysts expect that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, November 15th. Jabil’s dividend payout ratio is 2.90%.

Jabil Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; 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).