Martingale Asset Management L P increased its position in shares of Jabil Circuit, Inc. (NYSE:JBL) by 62.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 249,995 shares of the technology company’s stock after acquiring an additional 95,635 shares during the period. Martingale Asset Management L P owned approximately 0.14% of Jabil Circuit worth $7,298,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Jabil Circuit by 9.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock worth $177,000 after acquiring an additional 547 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Jabil Circuit during the 1st quarter worth approximately $218,000. PNC Financial Services Group Inc. increased its holdings in Jabil Circuit by 1.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock worth $236,000 after acquiring an additional 109 shares during the period. Symphony Asset Management LLC bought a new stake in Jabil Circuit during the 1st quarter worth approximately $242,000. Finally, First Citizens Bank & Trust Co. increased its holdings in Jabil Circuit by 30.6% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 9,133 shares of the technology company’s stock worth $267,000 after acquiring an additional 2,141 shares during the period. 93.00% of the stock is currently owned by institutional investors and hedge funds.
Jabil Circuit, Inc. (JBL) opened at 31.25 on Tuesday. The company’s 50 day moving average is $30.43 and its 200 day moving average is $29.33. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 48.08 and a beta of 0.55. Jabil Circuit, Inc. has a 12-month low of $20.32 and a 12-month high of $31.70.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the previous year, the business posted $0.17 earnings per share. Jabil Circuit’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts forecast that Jabil Circuit, Inc. will post $2.09 earnings per share for the current fiscal year.
Jabil Circuit announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 20th that allows the company to repurchase $450.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, August 11th. Jabil Circuit’s dividend payout ratio is presently 50.00%.
A number of research firms recently weighed in on JBL. ValuEngine raised shares of Jabil Circuit from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 7th. Needham & Company LLC reissued a “buy” rating and issued a $37.00 price target on shares of Jabil Circuit in a report on Friday, September 1st. BidaskClub lowered shares of Jabil Circuit from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. J P Morgan Chase & Co began coverage on shares of Jabil Circuit in a report on Wednesday, August 2nd. They issued an “overweight” rating and a $40.00 price target on the stock. Finally, Macquarie began coverage on shares of Jabil Circuit in a report on Thursday, June 22nd. They issued an “outperform” rating on the stock. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $29.31.
In related news, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $29.57, for a total value of $887,100.00. Following the sale, the chief executive officer now owns 1,937,619 shares in the company, valued at $57,295,393.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank A. Newman sold 60,000 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $29.52, for a total transaction of $1,771,200.00. Following the completion of the sale, the director now owns 127,665 shares in the company, valued at approximately $3,768,670.80. The disclosure for this sale can be found here. Insiders sold 170,387 shares of company stock worth $5,111,014 in the last 90 days. 2.90% of the stock is currently owned by company insiders.
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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