iA Global Asset Management Inc. Acquires 37,241 Shares of Jabil Inc. (NYSE:JBL)

iA Global Asset Management Inc. grew its position in Jabil Inc. (NYSE:JBL) by 1,293.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,120 shares of the technology company’s stock after purchasing an additional 37,241 shares during the quarter. iA Global Asset Management Inc.’s holdings in Jabil were worth $5,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Jabil during the fourth quarter valued at $27,000. Brooklyn Investment Group acquired a new position in shares of Jabil in the third quarter worth about $39,000. First Horizon Advisors Inc. raised its position in shares of Jabil by 90.3% during the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in shares of Jabil during the 4th quarter worth about $43,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Jabil by 113.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock worth $43,000 after purchasing an additional 158 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JBL. Barclays increased their price target on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. UBS Group raised their price objective on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Stifel Nicolaus reiterated a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group boosted their price target on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Jabil currently has an average rating of “Moderate Buy” and an average target price of $158.83.

Jabil Price Performance

JBL opened at $143.69 on Friday. The company’s 50-day moving average price is $156.14 and its 200 day moving average price is $137.66. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80. The firm has a market cap of $15.69 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.68 EPS. As a group, sell-side analysts expect that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.08 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 0.22%. Jabil’s dividend payout ratio is 3.07%.

Insider Activity

In other news, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the transaction, the director now owns 12,900 shares in the company, valued at $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the completion of the transaction, the executive vice president now owns 138,472 shares of the company’s stock, valued at $20,744,490.32. This trade represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,400 shares of company stock worth $12,804,458. Corporate insiders own 1.73% of the company’s stock.

Jabil 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).