Janus Henderson Group PLC lifted its stake in shares of Jabil Circuit, Inc. (NYSE:JBL) by 122.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,775 shares of the technology company’s stock after acquiring an additional 14,200 shares during the period. Janus Henderson Group PLC’s holdings in Jabil Circuit were worth $752,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisor Group Inc. raised its holdings in shares of Jabil Circuit by 68.2% during the 2nd quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock worth $168,000 after acquiring an additional 2,337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Jabil Circuit by 9.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock worth $177,000 after acquiring an additional 547 shares during the period. Stevens Capital Management LP purchased a new position in shares of Jabil Circuit during the 2nd quarter worth $206,000. Oppenheimer & Co. Inc. purchased a new position in shares of Jabil Circuit during the 1st quarter worth $218,000. Finally, Bridgewater Associates LP purchased a new position in shares of Jabil Circuit during the 2nd quarter worth $219,000. Institutional investors and hedge funds own 96.08% of the company’s stock.
In other Jabil Circuit news, CEO Erich Hoch sold 2,500 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $28.49, for a total transaction of $71,225.00. Following the completion of the sale, the chief executive officer now directly owns 206,943 shares in the company, valued at $5,895,806.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO William D. Muir, Jr. sold 26,420 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $28.00, for a total value of $739,760.00. Following the sale, the chief operating officer now owns 341,840 shares of the company’s stock, valued at $9,571,520. The disclosure for this sale can be found here. Insiders have sold 127,680 shares of company stock valued at $3,785,446 over the last 90 days. 2.90% of the stock is currently owned by insiders.
JBL has been the topic of several analyst reports. J P Morgan Chase & Co reiterated a “buy” rating and set a $40.00 price target on shares of Jabil Circuit in a report on Thursday, September 28th. ValuEngine downgraded Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub downgraded Jabil Circuit from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research raised Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a research report on Monday, October 2nd. Finally, Bank of America Corporation downgraded Jabil Circuit from a “buy” rating to a “neutral” rating in a research report on Monday, September 25th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $30.50.
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Jabil Circuit, Inc. (NYSE JBL) opened at 28.44 on Monday. Jabil Circuit, Inc. has a 52-week low of $20.32 and a 52-week high of $31.70. The firm has a 50-day moving average price of $29.30 and a 200 day moving average price of $29.71. The firm has a market capitalization of $5.08 billion, a P/E ratio of 41.22 and a beta of 0.59.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.86 billion. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. Analysts forecast that Jabil Circuit, Inc. will post $2.58 EPS for the current year.
Jabil Circuit announced that its board has initiated a share repurchase plan on Thursday, July 20th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 annualized dividend and a yield of 1.13%. Jabil Circuit’s dividend payout ratio is presently 46.38%.
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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