Jabil Circuit, Inc. (JBL) Stake Decreased by First Trust Advisors LP
First Trust Advisors LP cut its stake in Jabil Circuit, Inc. (NYSE:JBL) by 26.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 393,537 shares of the technology company’s stock after selling 142,430 shares during the period. First Trust Advisors LP owned approximately 0.22% of Jabil Circuit worth $11,487,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. KBC Group NV increased its stake in shares of Jabil Circuit by 63.0% in the first quarter. KBC Group NV now owns 252,871 shares of the technology company’s stock valued at $7,313,000 after buying an additional 97,765 shares during the period. Capstone Asset Management Co. increased its stake in shares of Jabil Circuit by 3.1% in the first quarter. Capstone Asset Management Co. now owns 26,126 shares of the technology company’s stock valued at $756,000 after buying an additional 780 shares during the period. PGGM Investments increased its stake in shares of Jabil Circuit by 2.7% in the second quarter. PGGM Investments now owns 113,091 shares of the technology company’s stock valued at $3,301,000 after buying an additional 3,006 shares during the period. Teachers Advisors LLC increased its stake in shares of Jabil Circuit by 0.4% in the first quarter. Teachers Advisors LLC now owns 502,040 shares of the technology company’s stock valued at $14,519,000 after buying an additional 2,138 shares during the period. Finally, Martingale Asset Management L P acquired a new stake in shares of Jabil Circuit during the first quarter valued at about $4,465,000. Institutional investors own 93.03% of the company’s stock.
Jabil Circuit, Inc. (JBL) opened at 30.10 on Thursday. The company’s 50-day moving average price is $30.22 and its 200 day moving average price is $28.86. Jabil Circuit, Inc. has a 12 month low of $20.32 and a 12 month high of $31.70. The firm has a market capitalization of $5.40 billion, a PE ratio of 46.31 and a beta of 0.56.
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, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.40 billion. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. On average, equities research analysts predict that Jabil Circuit, Inc. will post $2.09 earnings per share for the current year.
Jabil Circuit announced that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is currently 50.00%.
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Several research analysts have recently weighed in on the company. ValuEngine raised Jabil Circuit from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub cut Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Macquarie assumed coverage on Jabil Circuit in a research report on Thursday, June 22nd. They set an “outperform” rating for the company. J P Morgan Chase & Co assumed coverage on Jabil Circuit in a research report on Wednesday, August 2nd. They set an “overweight” rating and a $40.00 price objective for the company. Finally, Zacks Investment Research raised Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, June 20th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Jabil Circuit currently has a consensus rating of “Hold” and an average price target of $28.77.
In related news, CFO Forbes I. J. Alexander sold 4,341 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $30.00, for a total transaction of $130,230.00. Following the completion of the sale, the chief financial officer now owns 586,184 shares of the company’s stock, valued at $17,585,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO William D. Muir, Jr. sold 19,866 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $29.34, for a total transaction of $582,868.44. Following the sale, the chief operating officer now directly owns 597,085 shares of the company’s stock, valued at approximately $17,518,473.90. The disclosure for this sale can be found here. Insiders have sold 275,495 shares of company stock valued at $8,311,992 in the last three months. 2.90% of the stock is owned by insiders.
About Jabil Circuit
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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