Scientech Research LLC Invests $1.23 Million in Jabil Inc. (NYSE:JBL)

Scientech Research LLC purchased a new stake in shares of Jabil Inc. (NYSE:JBL) during the 2nd quarter, Holdings Channel reports. The fund purchased 11,344 shares of the technology company’s stock, valued at approximately $1,234,000.

Other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in Jabil by 13.0% in the 4th quarter. Wells Fargo & Company MN now owns 154,314 shares of the technology company’s stock worth $19,660,000 after purchasing an additional 17,766 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Jabil by 141.7% during the first quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company’s stock worth $2,324,000 after purchasing an additional 10,173 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Jabil by 30.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 331,373 shares of the technology company’s stock valued at $44,387,000 after buying an additional 76,573 shares during the period. Tobam bought a new position in Jabil in the 1st quarter valued at approximately $1,692,000. Finally, Hsbc Holdings PLC boosted its position in Jabil by 197.9% during the 4th quarter. Hsbc Holdings PLC now owns 88,436 shares of the technology company’s stock worth $11,268,000 after buying an additional 58,752 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Jabil news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the sale, the senior vice president now owns 24,829 shares in the company, valued at approximately $2,905,986.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the transaction, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The disclosure for this sale can be found here. 2.62% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays upped their price target on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus raised their target price on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America upped their price target on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, UBS Group cut their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $145.75.

Jabil Stock Performance

JBL stock opened at $122.31 on Friday. The firm has a market cap of $13.88 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 2.23 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The stock has a 50-day moving average price of $107.42 and a 200-day moving average price of $116.72. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 earnings per share. As a group, equities research analysts expect that Jabil Inc. will post 7.85 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date was Thursday, August 15th. Jabil’s dividend payout ratio is presently 2.91%.

Jabil Company Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).