JBT Marel Corporation $JBTM Stock Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in shares of JBT Marel Corporation (NYSE:JBTM) by 24.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 133,234 shares of the company’s stock after buying an additional 26,236 shares during the quarter. Pictet Asset Management Holding SA’s holdings in JBT Marel were worth $14,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in JBTM. BlackRock Inc. acquired a new position in shares of JBT Marel during the second quarter valued at about $1,150,221,000. Bamco Inc. NY acquired a new stake in shares of JBT Marel during the 2nd quarter worth approximately $95,781,000. William Blair Investment Management LLC acquired a new position in shares of JBT Marel in the second quarter valued at $67,480,000. Bank of America Corp DE bought a new position in JBT Marel in the second quarter worth $61,185,000. Finally, Bank of New York Mellon Corp bought a new position in JBT Marel in the second quarter worth $51,597,000. Institutional investors own 98.92% of the company’s stock.

JBT Marel Price Performance

Shares of JBTM stock opened at $125.45 on Friday. JBT Marel Corporation has a 1 year low of $102.97 and a 1 year high of $170.19. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. The firm’s 50 day moving average is $112.35 and its 200-day moving average is $129.84. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 1.37 and a beta of 0.93.

JBT Marel (NYSE:JBTM) last released its earnings results on Tuesday, November 3rd. The company reported $2.19 EPS for the quarter, beating the consensus estimate of $2.09 by $0.10. JBT Marel had a return on equity of 9.00% and a net margin of 5.00%. The company had revenue of $994.00 million during the quarter. Sell-side analysts forecast that JBT Marel Corporation will post 8.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on JBTM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of JBT Marel in a report on Wednesday, September 2nd. Jefferies Financial Group began coverage on JBT Marel in a report on Wednesday. They issued a “hold” rating and a $142.00 target price for the company. Barclays started coverage on JBT Marel in a research note on Tuesday, September 8th. They issued an “overweight” rating and a $150.00 price target on the stock. Robert W. Baird dropped their target price on shares of JBT Marel from $188.00 to $171.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Finally, KeyCorp initiated coverage on shares of JBT Marel in a research note on Tuesday, August 25th. They set an “overweight” rating and a $150.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.60.

JBT Marel Company Profile

JBT Marel Corporation provides equipment, automation, software and services for food and beverage processing. Its solutions help producers handle, prepare, process, package and transport products across the production chain. The company serves customers in sectors including meat, poultry, seafood, fruit and vegetables, prepared foods, and beverages. Its offerings include processing and packaging systems, filling and sterilization technologies, automated production lines, and aftermarket support.