Intact Investment Management Inc. Takes $70,000 Position in Jabil Inc. (NYSE:JBL)

Intact Investment Management Inc. bought a new position in shares of Jabil Inc. (NYSE:JBL) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 580 shares of the technology company’s stock, valued at approximately $70,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC bought a new stake in shares of Jabil during the 2nd quarter worth $28,000. ORG Partners LLC acquired a new position in Jabil during the 1st quarter worth $29,000. Innealta Capital LLC bought a new stake in Jabil during the second quarter valued at about $31,000. Family Firm Inc. acquired a new stake in shares of Jabil in the second quarter valued at about $37,000. Finally, Matrix Trust Co grew its position in shares of Jabil by 135.4% in the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after purchasing an additional 214 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insiders Place Their Bets

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the transaction, the executive vice president now owns 108,753 shares in the company, valued at $12,908,981.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the transaction, the executive vice president now owns 18,568 shares in the company, valued at approximately $2,336,411.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the transaction, the executive vice president now owns 108,753 shares of the company’s stock, valued at $12,908,981.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock worth $5,377,431 over the last quarter. Company insiders own 2.62% of the company’s stock.

Jabil Stock Up 1.1 %

JBL stock opened at $128.66 on Wednesday. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The company has a market cap of $14.52 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. The business’s 50-day simple moving average is $116.36 and its 200 day simple moving average is $114.48. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 earnings per share. On average, research analysts anticipate that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, November 15th. Jabil’s dividend payout ratio is 2.90%.

Analyst Ratings Changes

JBL has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Stifel Nicolaus raised their price target on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays raised their price target on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Bank of America raised their price target on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

About Jabil

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).