Dynamic Technology Lab Private Ltd Cuts Stock Position in Jabil Inc. (NYSE:JBL)

Dynamic Technology Lab Private Ltd lowered its position in Jabil Inc. (NYSE:JBL) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,667 shares of the technology company’s stock after selling 706 shares during the period. Jabil makes up approximately 0.6% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 3rd biggest holding. Dynamic Technology Lab Private Ltd’s holdings in Jabil were worth $5,712,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. HHM Wealth Advisors LLC purchased a new position in Jabil during the 2nd quarter valued at $28,000. Innealta Capital LLC bought a new position in shares of Jabil in the second quarter worth about $31,000. Capital Performance Advisors LLP bought a new position in shares of Jabil in the third quarter worth about $32,000. Family Firm Inc. bought a new stake in Jabil during the 2nd quarter valued at about $37,000. Finally, Matrix Trust Co grew its stake in Jabil by 135.4% in the 3rd quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock worth $45,000 after acquiring an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Stock Up 0.4 %

JBL stock opened at $131.12 on Monday. 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 Inc. has a 52 week low of $95.85 and a 52 week high of $156.94. The stock has a market capitalization of $14.80 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. The firm has a 50 day moving average of $123.82 and a 200 day moving average of $115.81.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same period in the previous year, the company earned $2.34 earnings per share. The business’s quarterly revenue was down 17.7% compared to the same quarter last year. Sell-side analysts forecast that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Friday, November 15th. Jabil’s payout ratio is 2.90%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America raised their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Stifel Nicolaus raised their price objective on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. decreased their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, Barclays lifted their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Insider Buying and Selling

In other news, EVP Frederic E. Mccoy sold 4,283 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $122.28, for a total value of $523,725.24. Following the sale, the executive vice president now owns 142,472 shares in the company, valued at $17,421,476.16. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total value of $1,430,701.05. Following the transaction, the senior vice president now owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This represents a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,689 shares of company stock valued at $5,377,431 over the last quarter. 2.62% of the stock is currently owned by company insiders.

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).