James Investment Research Inc. bought a new stake in Jabil Circuit, Inc. (NYSE:JBL) during the second quarter, Holdings Channel reports. The fund bought 42,915 shares of the technology company’s stock, valued at approximately $1,253,000.
Other large investors have also recently modified their holdings of the company. KBC Group NV boosted its stake in shares of Jabil Circuit by 63.0% in the first quarter. KBC Group NV now owns 252,871 shares of the technology company’s stock valued at $7,313,000 after buying an additional 97,765 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Jabil Circuit by 3.1% in the first quarter. Capstone Asset Management Co. now owns 26,126 shares of the technology company’s stock valued at $756,000 after buying an additional 780 shares during the period. Pegasus Partners Ltd. boosted its stake in shares of Jabil Circuit by 6.3% in the fourth quarter. Pegasus Partners Ltd. now owns 32,487 shares of the technology company’s stock valued at $769,000 after buying an additional 1,922 shares during the period. Martingale Asset Management L P purchased a new stake in shares of Jabil Circuit during the first quarter valued at about $4,465,000. Finally, Creative Planning boosted its stake in shares of Jabil Circuit by 2.0% in the first quarter. Creative Planning now owns 18,157 shares of the technology company’s stock valued at $525,000 after buying an additional 351 shares during the period. 94.72% of the stock is currently owned by hedge funds and other institutional investors.
Jabil Circuit, Inc. (NYSE:JBL) opened at 30.74 on Friday. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 47.29 and a beta of 0.56. The firm’s 50 day moving average price is $30.01 and its 200 day moving average price is $27.73. Jabil Circuit, Inc. has a 12 month low of $19.95 and a 12 month high of $31.70.
Jabil Circuit (NYSE:JBL) last announced its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.40 billion. Jabil Circuit had a net margin of 0.66% and a return on equity of 12.27%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 EPS. On average, equities research analysts predict that Jabil Circuit, Inc. will post $2.10 EPS for the current fiscal year.
Jabil Circuit announced that its board has authorized a stock buyback 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 often a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. Jabil Circuit’s dividend payout ratio is currently 50.00%.
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Several equities research analysts have weighed in on the company. Zacks Investment Research raised Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Tuesday, June 20th. Bank of America Corporation reissued a “buy” rating and set a $34.00 price objective (up from $33.00) on shares of Jabil Circuit in a research note on Monday, June 19th. BidaskClub cut Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. UBS AG reissued a “buy” rating and set a $35.00 price objective (up from $30.00) on shares of Jabil Circuit in a research note on Friday, June 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Jabil Circuit in a research note on Tuesday, June 13th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $27.83.
In other news, President William E. Peters sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $29.50, for a total transaction of $324,500.00. Following the completion of the sale, the president now owns 678,422 shares in the company, valued at approximately $20,013,449. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Forbes I. J. Alexander sold 4,341 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $30.00, for a total transaction of $130,230.00. Following the sale, the chief financial officer now owns 586,184 shares of the company’s stock, valued at approximately $17,585,520. The disclosure for this sale can be found here. Insiders have sold a total of 290,324 shares of company stock valued at $8,726,958 in the last 90 days. Insiders own 2.90% of the company’s stock.
Jabil Circuit Company Profile
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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