Prudential Financial Inc. trimmed its holdings in Jabil Circuit, Inc. (NYSE:JBL) by 11.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,512,522 shares of the technology company’s stock after selling 205,040 shares during the period. Prudential Financial Inc. owned 0.86% of Jabil Circuit worth $43,183,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Jabil Circuit by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock valued at $236,000 after buying an additional 109 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Jabil Circuit by 0.4% in the second quarter. Meeder Asset Management Inc. now owns 50,734 shares of the technology company’s stock valued at $1,482,000 after buying an additional 194 shares during the last quarter. IHT Wealth Management LLC raised its position in shares of Jabil Circuit by 142.6% in the second quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after buying an additional 211 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Jabil Circuit by 9.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock valued at $177,000 after buying an additional 547 shares during the last quarter. Finally, Colonial Trust Advisors raised its position in shares of Jabil Circuit by 4.1% in the second quarter. Colonial Trust Advisors now owns 15,400 shares of the technology company’s stock valued at $450,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 96.14% of the company’s stock.
Jabil Circuit, Inc. (NYSE:JBL) opened at $28.61 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.54 and a current ratio of 0.96. The firm has a market cap of $5,053.76, a PE ratio of 15.38, a price-to-earnings-growth ratio of 1.07 and a beta of 0.53. 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 earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.86 billion. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. Jabil Circuit’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. equities analysts forecast that Jabil Circuit, Inc. will post 2.22 EPS for the current year.
Jabil Circuit declared that its board has approved a stock buyback plan on Thursday, July 20th that allows the company to repurchase $450.00 million in shares. This repurchase authorization allows the technology company to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, November 14th. Jabil Circuit’s dividend payout ratio (DPR) is presently 46.38%.
In other Jabil Circuit news, CEO Mark T. Mondello sold 30,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $29.02, for a total transaction of $870,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO William D. Muir, Jr. sold 26,420 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $28.00, for a total transaction of $739,760.00. Following the transaction, the chief operating officer now directly owns 341,840 shares of the company’s stock, valued at approximately $9,571,520. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,680 shares of company stock valued at $3,721,246. 2.90% of the stock is currently owned by insiders.
JBL has been the subject of a number of recent research reports. J P Morgan Chase & Co reiterated a “buy” rating and issued a $40.00 target price on shares of Jabil Circuit in a research report on Thursday, September 28th. ValuEngine cut shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub cut shares of Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded shares of Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research report on Monday, October 2nd. Finally, Bank of America Corporation cut shares of Jabil Circuit from a “buy” rating to a “neutral” rating in a research report on Monday, September 25th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Jabil Circuit has a consensus rating of “Hold” and an average price target of $30.50.
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Jabil Circuit Company 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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