Hartford Investment Management Co. Cuts Stake in Jabil, Inc. $JBL

Hartford Investment Management Co. lowered its position in Jabil, Inc. (NYSE:JBL) by 2.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,481 shares of the technology company’s stock after selling 187 shares during the period. Hartford Investment Management Co.’s holdings in Jabil were worth $1,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of JBL. Robeco Institutional Asset Management B.V. boosted its stake in shares of Jabil by 84.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company’s stock valued at $1,846,000 after purchasing an additional 6,225 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Jabil by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company’s stock valued at $33,062,000 after purchasing an additional 18,126 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in shares of Jabil by 7.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company’s stock valued at $453,000 after purchasing an additional 217 shares during the period. OneDigital Investment Advisors LLC purchased a new stake in shares of Jabil during the first quarter valued at approximately $214,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Jabil by 2.3% during the first quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company’s stock valued at $813,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

Shares of Jabil stock opened at $216.19 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.00 and a debt-to-equity ratio of 1.57. The company has a market cap of $23.20 billion, a PE ratio of 36.27, a P/E/G ratio of 1.27 and a beta of 1.25. The business has a 50 day moving average of $216.57 and a 200 day moving average of $184.48. Jabil, Inc. has a 52 week low of $108.66 and a 52 week high of $237.14.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a $0.08 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. Jabil’s dividend payout ratio is 6.21%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Barclays increased their price objective on Jabil from $223.00 to $267.00 and gave the company an “overweight” rating in a research note on Friday. Argus raised Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. Wall Street Zen lowered Jabil from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. upped their target price on Jabil from $214.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Finally, Raymond James Financial set a $260.00 target price on Jabil in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $243.71.

Insiders Place Their Bets

In other Jabil news, EVP Andrew Priestley sold 3,782 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $225.00, for a total value of $850,950.00. Following the completion of the transaction, the executive vice president owned 48,535 shares in the company, valued at approximately $10,920,375. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anousheh Ansari sold 1,000 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $222.75, for a total value of $222,750.00. Following the completion of the transaction, the director owned 36,400 shares of the company’s stock, valued at approximately $8,108,100. This trade represents a 2.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,416 shares of company stock valued at $18,625,639 in the last 90 days. Corporate insiders own 1.73% of the company’s stock.

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).