Essex Financial Services Inc. Buys New Stake in Jabil, Inc. $JBL

Essex Financial Services Inc. purchased a new position in Jabil, Inc. (NYSE:JBL) during the 4th quarter, Holdings Channel.com reports. The firm purchased 1,491 shares of the technology company’s stock, valued at approximately $340,000.

Other institutional investors have also bought and sold shares of the company. State Street Corp grew its stake in shares of Jabil by 0.7% in the 3rd quarter. State Street Corp now owns 5,199,646 shares of the technology company’s stock worth $1,129,207,000 after buying an additional 36,646 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Jabil by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,913,157 shares of the technology company’s stock valued at $661,783,000 after acquiring an additional 42,422 shares during the last quarter. Norges Bank bought a new position in shares of Jabil in the 4th quarter valued at about $407,299,000. Arrowstreet Capital Limited Partnership grew its position in Jabil by 1,157.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,454,915 shares of the technology company’s stock worth $315,964,000 after acquiring an additional 1,339,247 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in Jabil by 180.1% in the third quarter. Allianz Asset Management GmbH now owns 758,326 shares of the technology company’s stock worth $164,686,000 after acquiring an additional 487,595 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

Shares of JBL stock opened at $373.56 on Wednesday. The stock has a 50 day moving average price of $320.76 and a 200 day moving average price of $266.39. Jabil, Inc. has a 52-week low of $167.87 and a 52-week high of $381.94. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.68 and a current ratio of 1.01. The firm has a market capitalization of $39.41 billion, a P/E ratio of 50.14, a P/E/G ratio of 1.87 and a beta of 1.28.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Wednesday, March 18th. The technology company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.51 by $0.18. Jabil had a return on equity of 80.96% and a net margin of 2.48%.The company had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter in the prior year, the company posted $1.94 EPS. Jabil’s quarterly revenue was up 23.1% on a year-over-year basis. As a group, sell-side analysts predict that Jabil, Inc. will post 11.3 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Friday, May 15th were issued a $0.08 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.1%. Jabil’s dividend payout ratio is presently 4.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on JBL shares. Weiss Ratings downgraded Jabil from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. boosted their target price on Jabil from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Bank of America increased their price target on Jabil from $295.00 to $354.00 and gave the company a “buy” rating in a report on Monday, April 20th. Wall Street Zen downgraded Jabil from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, The Goldman Sachs Group lifted their price objective on shares of Jabil from $336.00 to $384.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $303.38.

Insider Buying and Selling

In other news, EVP Andrew Priestley sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $301.00, for a total transaction of $1,204,000.00. Following the transaction, the executive vice president directly owned 60,267 shares of the company’s stock, valued at approximately $18,140,367. This trade represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Dastoor sold 9,467 shares of Jabil stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $286.64, for a total transaction of $2,713,620.88. Following the sale, the chief executive officer directly owned 253,099 shares of the company’s stock, valued at $72,548,297.36. This represents a 3.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,981 shares of company stock worth $11,360,740 over the last ninety days. 1.35% of the stock is owned by insiders.

Jabil Profile

Jabil Inc (NYSE: JBL) is a global manufacturing solutions provider specializing in electronic manufacturing services (EMS) and diversified products across a wide range of industries. The company partners with original equipment manufacturers to deliver design engineering, supply chain management, precision manufacturing, and aftermarket services. Jabil’s expertise spans sectors such as healthcare, automotive, clean technology, telecommunications, consumer electronics, and packaging, enabling it to support both high-volume production and complex, mission-critical applications.

Founded in 1966 by William E.