Paradigm Capital Management Inc. NY lifted its holdings in shares of Jabil Circuit, Inc. (NYSE:JBL) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 741,500 shares of the technology company’s stock after acquiring an additional 12,200 shares during the quarter. Jabil Circuit makes up 1.8% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 19th biggest position. Paradigm Capital Management Inc. NY owned 0.42% of Jabil Circuit worth $21,170,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. raised its holdings in shares of Jabil Circuit by 1.3% during the first quarter. PNC Financial Services Group Inc. now owns 8,194 shares of the technology company’s stock valued at $236,000 after acquiring an additional 109 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Jabil Circuit by 0.4% during the second quarter. Meeder Asset Management Inc. now owns 50,734 shares of the technology company’s stock valued at $1,482,000 after acquiring an additional 194 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of Jabil Circuit by 142.6% during the second quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after acquiring an additional 211 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Jabil Circuit by 9.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock valued at $177,000 after acquiring an additional 547 shares in the last quarter. Finally, Colonial Trust Advisors raised its holdings in shares of Jabil Circuit by 4.1% during the second quarter. Colonial Trust Advisors now owns 15,400 shares of the technology company’s stock valued at $450,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 96.14% of the company’s stock.
In related news, President William E. Peters sold 3,580 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $28.74, for a total transaction of $102,889.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark T. Mondello sold 30,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $29.02, for a total value of $870,600.00. The disclosure for this sale can be found here. Insiders have sold 127,680 shares of company stock worth $3,721,246 over the last ninety days. 2.90% of the stock is currently owned by insiders.
Several brokerages recently weighed in on JBL. UBS AG reaffirmed a “buy” rating and issued a $35.00 price target on shares of Jabil Circuit in a research note on Tuesday, October 17th. Goldman Sachs Group, Inc. (The) cut Jabil Circuit from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $28.00 to $26.00 in a research note on Tuesday, October 10th. ValuEngine cut Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research raised Jabil Circuit from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 price target on shares of Jabil Circuit in a research note on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.50.
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Jabil Circuit, Inc. (NYSE:JBL) traded up $0.29 during midday trading on Friday, hitting $28.61. The stock had a trading volume of 2,191,600 shares, compared to its average volume of 2,264,201. Jabil Circuit, Inc. has a 52-week low of $20.32 and a 52-week high of $31.70. The stock has a market capitalization of $5,053.76, a PE ratio of 15.38, a P/E/G ratio of 1.07 and a beta of 0.53. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.54 and a current ratio of 0.96.
Jabil Circuit (NYSE:JBL) last released its earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Jabil Circuit had a return on equity of 14.47% and a net margin of 0.68%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. equities research analysts expect that Jabil Circuit, Inc. will post 2.22 earnings per share for the current year.
Jabil Circuit announced that its board has approved a stock repurchase plan on Thursday, July 20th that allows the company to buyback $450.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.12%. Jabil Circuit’s dividend payout ratio (DPR) is presently 46.38%.
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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