Intech Investment Management LLC Grows Stock Position in Jabil Inc. (NYSE:JBL)

Intech Investment Management LLC grew its position in Jabil Inc. (NYSE:JBL) by 558.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,929 shares of the technology company’s stock after acquiring an additional 29,624 shares during the quarter. Intech Investment Management LLC’s holdings in Jabil were worth $5,026,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meyer Handelman Co. purchased a new position in shares of Jabil in the fourth quarter valued at approximately $7,334,000. Davis Investment Partners LLC purchased a new position in shares of Jabil in the fourth quarter valued at approximately $1,433,000. Truist Financial Corp lifted its position in Jabil by 50.4% during the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after buying an additional 4,034 shares in the last quarter. Merit Financial Group LLC purchased a new position in Jabil during the fourth quarter worth approximately $235,000. Finally, Keybank National Association OH purchased a new position in Jabil during the fourth quarter worth approximately $214,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Buying and Selling at Jabil

In other news, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction on Friday, January 24th. The stock was sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the sale, the director now directly owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of Jabil stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the sale, the director now directly owns 12,900 shares of the company’s stock, valued at $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock worth $12,804,458 over the last quarter. 1.73% of the stock is currently owned by company insiders.

Jabil Price Performance

NYSE:JBL opened at $135.54 on Wednesday. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $174.80. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $14.80 billion, a P/E ratio of 12.99, a P/E/G ratio of 1.65 and a beta of 1.19. The stock’s fifty day moving average is $156.64 and its two-hundred day moving average is $137.61.

Jabil (NYSE:JBL) last posted its earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter in the previous year, the business earned $2.60 earnings per share. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. Equities analysts expect that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. Jabil’s dividend payout ratio is currently 3.07%.

Wall Street Analysts Forecast Growth

JBL has been the topic of a number of analyst reports. StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group lifted their price objective on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Barclays lifted their price objective on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. UBS Group lifted their price objective on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $158.83.

Jabil Company 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).