Neuburgh Advisers LLC cut its stake in shares of Jabil Inc (NYSE:JBL) by 45.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 196,112 shares of the technology company’s stock after selling 165,036 shares during the quarter. Neuburgh Advisers LLC’s holdings in Jabil were worth $5,215,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. JOYN Advisors Inc. increased its holdings in shares of Jabil by 2,157.4% during the fourth quarter. JOYN Advisors Inc. now owns 1,061 shares of the technology company’s stock worth $26,000 after buying an additional 1,014 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Jabil in the fourth quarter valued at $34,000. Doyle Wealth Management acquired a new stake in Jabil in the fourth quarter valued at $73,000. Squar Milner Financial Services LLC acquired a new stake in Jabil in the first quarter valued at $118,000. Finally, Stephens Inc. AR acquired a new stake in Jabil in the first quarter valued at $202,000. Institutional investors own 89.62% of the company’s stock.
NYSE JBL traded up $0.19 on Wednesday, reaching $26.96. The company had a trading volume of 12,771 shares, compared to its average volume of 1,310,757. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 0.96 and a beta of 0.80. Jabil Inc has a fifty-two week low of $21.49 and a fifty-two week high of $31.50. The company has a quick ratio of 0.60, a current ratio of 1.02 and a debt-to-equity ratio of 1.34.
The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.19%. Jabil’s dividend payout ratio (DPR) is currently 14.75%.
A number of research firms recently weighed in on JBL. Zacks Investment Research upgraded Jabil from a “sell” rating to a “hold” rating and set a $27.00 price objective for the company in a report on Wednesday, May 29th. Raymond James upgraded Jabil from a “market perform” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a report on Monday, April 1st. Finally, TheStreet upgraded Jabil from a “c+” rating to a “b” rating in a report on Monday, February 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $29.00.
In other Jabil news, CEO Steven D. Borges sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $31.00, for a total transaction of $310,000.00. Following the sale, the chief executive officer now owns 257,615 shares of the company’s stock, valued at $7,986,065. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alessandro Parimbelli sold 3,500 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $29.70, for a total transaction of $103,950.00. Following the sale, the chief executive officer now directly owns 320,792 shares in the company, valued at approximately $9,527,522.40. The disclosure for this sale can be found here. Insiders have sold 46,388 shares of company stock worth $1,389,530 in the last ninety days. Insiders own 2.90% of the company’s stock.
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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