Jabil Inc. (NYSE:JBL) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its holdings in Jabil Inc. (NYSE:JBL) by 260.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 902 shares of the technology company’s stock after acquiring an additional 652 shares during the quarter. Venturi Wealth Management LLC’s holdings in Jabil were worth $108,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in JBL. Point72 Asset Management L.P. purchased a new stake in Jabil during the second quarter worth about $78,660,000. AQR Capital Management LLC lifted its position in shares of Jabil by 195.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after acquiring an additional 702,199 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Jabil by 29.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after acquiring an additional 310,590 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Jabil in the 1st quarter valued at approximately $39,040,000. Finally, Victory Capital Management Inc. increased its stake in Jabil by 72.0% in the 2nd quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock valued at $53,361,000 after purchasing an additional 205,331 shares in the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Stock Performance

Shares of JBL opened at $129.08 on Friday. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The company’s 50 day simple moving average is $120.72 and its 200 day simple moving average is $115.34. The company has a market capitalization of $14.57 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.57 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09.

Jabil (NYSE:JBL) last issued its quarterly 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 company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.34 EPS. On average, sell-side analysts predict that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. Jabil’s payout ratio is currently 2.90%.

Insider Transactions at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the transaction, the director now owns 139,108 shares in the company, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew Crowley sold 1,380 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the sale, the executive vice president now owns 18,568 shares of the company’s stock, valued at approximately $2,336,411.44. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock worth $5,377,431 in the last three months. Company insiders own 2.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on JBL shares. Stifel Nicolaus upped their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Bank of America raised their target price on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. reduced their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, Barclays lifted their price objective on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

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).