Stevens Capital Management LP Invests $206,000 in Jabil Circuit, Inc. (JBL) Stock
Stevens Capital Management LP purchased a new stake in Jabil Circuit, Inc. (NYSE:JBL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,064 shares of the technology company’s stock, valued at approximately $206,000.
A number of other large investors have also bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in shares of Jabil Circuit by 1.3% during 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 last quarter. Meeder Asset Management Inc. raised its position in Jabil Circuit by 0.4% during the second quarter. Meeder Asset Management Inc. now owns 50,734 shares of the technology company’s stock valued at $1,482,000 after acquiring an additional 194 shares in the last quarter. Advantus Capital Management Inc raised its position in Jabil Circuit by 1.2% during the first quarter. Advantus Capital Management Inc now owns 23,332 shares of the technology company’s stock valued at $675,000 after acquiring an additional 268 shares in the last quarter. Colonial Trust Advisors lifted its holdings in Jabil Circuit by 3.5% in the first quarter. Colonial Trust Advisors now owns 14,800 shares of the technology company’s stock valued at $431,000 after acquiring an additional 500 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Jabil Circuit by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 41,972 shares of the technology company’s stock valued at $1,214,000 after acquiring an additional 502 shares during the period. 93.05% of the stock is currently owned by institutional investors.
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JBL has been the topic of a number of recent analyst reports. UBS AG reissued a “buy” rating and set a $35.00 price target (up from $30.00) on shares of Jabil Circuit in a report on Friday, June 16th. Zacks Investment Research raised shares of Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a research note on Monday. ValuEngine cut Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Monday. BidaskClub upgraded Jabil Circuit from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Finally, Stifel Nicolaus lifted their price target on Jabil Circuit from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $30.50.
In other Jabil Circuit news, CEO Mark T. Mondello sold 30,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $31.32, for a total value of $939,600.00. Following the sale, the chief executive officer now directly owns 1,877,619 shares of the company’s stock, valued at approximately $58,807,027.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 60,521 shares of company stock valued at $1,869,846. Company insiders own 2.90% of the company’s stock.
Jabil Circuit, Inc. (JBL) opened at 29.29 on Tuesday. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 45.06 and a beta of 0.59. Jabil Circuit, Inc. has a 12-month low of $20.32 and a 12-month high of $31.70. The firm has a 50-day moving average of $30.14 and a 200 day moving average of $29.73.
Jabil Circuit (NYSE:JBL) last issued its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.86 billion. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. Jabil Circuit’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 EPS. On average, equities analysts predict that Jabil Circuit, Inc. will post $2.59 EPS for the current year.
Jabil Circuit declared that its board has authorized a stock repurchase plan on Thursday, July 20th that permits the company to repurchase $450.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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