Profund Advisors LLC Lowers Stake in Jabil Circuit, Inc. (JBL)
Profund Advisors LLC reduced its position in Jabil Circuit, Inc. (NYSE:JBL) by 35.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 19,623 shares of the technology company’s stock after selling 10,986 shares during the period. Profund Advisors LLC’s holdings in Jabil Circuit were worth $573,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Jabil Circuit by 9.9% in the 2nd 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 period. Stevens Capital Management LP acquired a new stake in shares of Jabil Circuit in the 2nd quarter valued at $206,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Jabil Circuit in the 1st quarter valued at $218,000. Bridgewater Associates LP acquired a new stake in shares of Jabil Circuit in the 2nd quarter valued at $219,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Jabil Circuit by 1.3% in the 1st 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 period. 93.05% of the stock is owned by institutional investors.
Shares of Jabil Circuit, Inc. (NYSE:JBL) opened at 28.81 on Thursday. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 44.32 and a beta of 0.55. The stock has a 50 day moving average price of $30.47 and a 200-day moving average price of $29.56. Jabil Circuit, Inc. has a one year low of $20.32 and a one year high of $31.70.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings data on Wednesday, September 27th. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. On average, equities research analysts expect that Jabil Circuit, Inc. will post $2.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.11%. Jabil Circuit’s dividend payout ratio (DPR) is presently 50.00%.
Jabil Circuit declared that its board has initiated a share buyback program on Thursday, July 20th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Mark T. Mondello sold 30,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $30.47, for a total transaction of $914,100.00. Following the transaction, the chief executive officer now owns 1,907,619 shares of the company’s stock, valued at approximately $58,125,150.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 90,521 shares of company stock worth $2,756,946 in the last three months. Insiders own 2.90% of the company’s stock.
Several equities research analysts have recently commented on JBL shares. ValuEngine raised Jabil Circuit from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Jabil Circuit in a research note on Tuesday, June 13th. Stifel Nicolaus lifted their target price on Jabil Circuit from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, June 15th. Royal Bank Of Canada lifted their target price on Jabil Circuit from $27.00 to $31.00 and gave the company a “sector perform” rating in a research note on Thursday, June 15th. Finally, UBS AG reissued a “buy” rating and issued a $35.00 target price (up from $30.00) on shares of Jabil Circuit in a research note on Friday, June 16th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Jabil Circuit has an average rating of “Hold” and an average price target of $30.64.
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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