Jabil Circuit, Inc. (JBL) Holdings Increased by Earnest Partners LLC
Earnest Partners LLC boosted its position in Jabil Circuit, Inc. (NYSE:JBL) by 28.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 933,648 shares of the technology company’s stock after purchasing an additional 204,466 shares during the quarter. Earnest Partners LLC owned about 0.52% of Jabil Circuit worth $27,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc lifted its stake in Jabil Circuit by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 914,334 shares of the technology company’s stock worth $26,688,000 after purchasing an additional 43,628 shares in the last quarter. Chicago Equity Partners LLC lifted its stake in Jabil Circuit by 315.7% in the 2nd quarter. Chicago Equity Partners LLC now owns 185,845 shares of the technology company’s stock worth $5,425,000 after purchasing an additional 141,140 shares in the last quarter. Martingale Asset Management L P lifted its stake in Jabil Circuit by 62.0% in the 2nd quarter. Martingale Asset Management L P now owns 249,995 shares of the technology company’s stock worth $7,298,000 after purchasing an additional 95,635 shares in the last quarter. Teachers Advisors LLC lifted its stake in Jabil Circuit by 0.4% in the 1st quarter. Teachers Advisors LLC now owns 502,040 shares of the technology company’s stock worth $14,519,000 after purchasing an additional 2,138 shares in the last quarter. Finally, PGGM Investments lifted its stake in Jabil Circuit by 2.7% in the 2nd quarter. PGGM Investments now owns 113,091 shares of the technology company’s stock worth $3,301,000 after purchasing an additional 3,006 shares in the last quarter. Institutional investors and hedge funds own 93.05% of the company’s stock.
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Jabil Circuit, Inc. (JBL) traded down 0.20% during mid-day trading on Monday, hitting $29.73. 201,738 shares of the stock traded hands. Jabil Circuit, Inc. has a 12 month low of $20.32 and a 12 month high of $31.70. The company’s 50 day moving average is $30.14 and its 200 day moving average is $29.74. The company has a market cap of $5.33 billion, a P/E ratio of 45.74 and a beta of 0.59.
Jabil Circuit (NYSE:JBL) last issued its earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. Jabil Circuit’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts expect that Jabil Circuit, Inc. will post $2.59 earnings per share for the current fiscal year.
Jabil Circuit announced that its board has initiated a share buyback plan on Thursday, July 20th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, CEO Mark T. Mondello sold 30,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $29.02, for a total transaction of $870,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 90,521 shares of company stock valued at $2,740,446. 2.90% of the stock is owned by company insiders.
Several analysts have issued reports on JBL shares. Needham & Company LLC reiterated a “buy” rating and issued a $37.00 target price on shares of Jabil Circuit in a research note on Friday, September 1st. Bank of America Corporation reiterated a “buy” rating and issued a $34.00 target price (up from $33.00) on shares of Jabil Circuit in a research note on Monday, June 19th. BidaskClub cut shares of Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. UBS AG reiterated 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. Finally, J P Morgan Chase & Co reiterated a “buy” rating and issued a $40.00 target price on shares of Jabil Circuit in a research note on Thursday, September 28th. 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. Jabil Circuit has a consensus rating of “Hold” and a consensus target price of $30.50.
Jabil Circuit 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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