Parametric Portfolio Associates LLC Trims Stake in Jabil Circuit, Inc. (JBL)
Parametric Portfolio Associates LLC trimmed its stake in shares of Jabil Circuit, Inc. (NYSE:JBL) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 665,994 shares of the technology company’s stock after selling 12,375 shares during the period. Parametric Portfolio Associates LLC owned about 0.37% of Jabil Circuit worth $19,440,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Advisor Group Inc. lifted its position in shares of Jabil Circuit by 68.2% during the 2nd quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock valued at $168,000 after acquiring an additional 2,337 shares during the period. Hanseatic Management Services Inc. acquired a new stake in shares of Jabil Circuit during the 2nd quarter valued at approximately $1,751,000. California Public Employees Retirement System lifted its position in shares of Jabil Circuit by 1.8% during the 2nd quarter. California Public Employees Retirement System now owns 672,415 shares of the technology company’s stock valued at $19,628,000 after acquiring an additional 11,600 shares during the period. MML Investors Services LLC acquired a new stake in shares of Jabil Circuit during the 2nd quarter valued at approximately $248,000. Finally, Vanguard Group Inc. lifted its position in shares of Jabil Circuit by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 13,967,548 shares of the technology company’s stock valued at $407,712,000 after acquiring an additional 134,408 shares during the period. Institutional investors own 93.05% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. UBS AG reiterated a “buy” rating and set a $35.00 price target (up from $30.00) on shares of Jabil Circuit in a research report on Friday, June 16th. ValuEngine downgraded Jabil Circuit from a “strong-buy” rating to a “buy” rating in a research report on Monday. BidaskClub upgraded Jabil Circuit from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Stifel Nicolaus lifted their price objective on Jabil Circuit from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, June 15th. Finally, J P Morgan Chase & Co restated a “buy” rating and set a $40.00 price objective on shares of Jabil Circuit in a research report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $30.50.
In related news, CEO Mark T. Mondello sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $31.32, for a total value of $939,600.00. Following the completion of the sale, the chief executive officer now owns 1,877,619 shares in the company, valued at approximately $58,807,027.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 90,521 shares of company stock valued at $2,740,446. 2.90% of the stock is owned by insiders.
Jabil Circuit, Inc. (NYSE:JBL) opened at 29.82 on Thursday. The firm has a market capitalization of $5.34 billion, a P/E ratio of 45.88 and a beta of 0.59. The firm has a 50-day moving average price of $30.14 and a 200 day moving average price of $29.73. Jabil Circuit, Inc. has a one year low of $20.32 and a one year high of $31.70.
Jabil Circuit (NYSE:JBL) last issued its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.86 billion. Jabil Circuit had a net margin of 0.68% and a return on equity of 14.47%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. Equities research analysts anticipate that Jabil Circuit, Inc. will post $2.59 earnings per share for the current year.
Jabil Circuit announced that its board has initiated a share repurchase program 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 programs are often an indication that the company’s leadership believes its shares are undervalued.
About Jabil Circuit
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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