Jabil Circuit, Inc. (JBL) Shares Bought by Legal & General Group Plc
Legal & General Group Plc raised its position in Jabil Circuit, Inc. (NYSE:JBL) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 914,334 shares of the technology company’s stock after buying an additional 43,628 shares during the period. Legal & General Group Plc owned 0.51% of Jabil Circuit worth $26,688,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of JBL. Engineers Gate Manager LP raised its stake in shares of Jabil Circuit by 281.3% in the first quarter. Engineers Gate Manager LP now owns 111,480 shares of the technology company’s stock worth $3,224,000 after buying an additional 82,247 shares during the last quarter. Parkwood LLC raised its stake in shares of Jabil Circuit by 18.7% in the first quarter. Parkwood LLC now owns 16,974 shares of the technology company’s stock worth $491,000 after buying an additional 2,670 shares during the last quarter. Sei Investments Co. raised its stake in shares of Jabil Circuit by 104.5% in the first quarter. Sei Investments Co. now owns 159,443 shares of the technology company’s stock worth $4,612,000 after buying an additional 81,472 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Jabil Circuit during the first quarter worth about $2,283,000. Finally, Teza Capital Management LLC acquired a new stake in shares of Jabil Circuit during the first quarter worth about $287,000. 92.99% of the stock is currently owned by hedge funds and other institutional investors.
Jabil Circuit, Inc. (NYSE JBL) opened at 31.35 on Friday. The stock has a 50 day moving average price of $30.42 and a 200 day moving average price of $29.08. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 48.23 and a beta of 0.56. Jabil Circuit, Inc. has a 1-year low of $20.32 and a 1-year high of $31.70.
Jabil Circuit (NYSE:JBL) last issued its 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 return on equity of 12.27% and a net margin of 0.66%. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period in the prior year, the firm posted $0.17 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. Analysts predict that Jabil Circuit, Inc. will post $2.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be 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 is Friday, August 11th. Jabil Circuit’s payout ratio is currently 50.00%.
Jabil Circuit announced that its board has initiated a stock repurchase program on Thursday, July 20th that authorizes the company to buyback $450.00 million in shares. This buyback authorization authorizes the technology company to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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A number of brokerages have issued reports on JBL. Needham & Company LLC reissued a “buy” rating and issued a $37.00 price target on shares of Jabil Circuit in a research note on Friday. BidaskClub lowered Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. ValuEngine raised Jabil Circuit from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada raised their price target on Jabil Circuit from $27.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 15th. Finally, Stifel Nicolaus raised their price target on Jabil Circuit from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, June 15th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.31.
In other Jabil Circuit news, COO William D. Muir, Jr. sold 19,866 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $29.34, for a total value of $582,868.44. Following the transaction, the chief operating officer now directly owns 597,085 shares of the company’s stock, valued at approximately $17,518,473.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark T. Mondello sold 30,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $29.57, for a total value of $887,100.00. Following the completion of the transaction, the chief executive officer now directly owns 1,937,619 shares in the company, valued at $57,295,393.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,387 shares of company stock worth $5,572,664. Insiders own 2.90% of the company’s stock.
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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