PNC Financial Services Group Inc. Lowers Holdings in Jabil Inc. (NYSE:JBL)

PNC Financial Services Group Inc. reduced its position in Jabil Inc. (NYSE:JBL) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,125 shares of the technology company’s stock after selling 1,754 shares during the period. PNC Financial Services Group Inc.’s holdings in Jabil were worth $4,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of JBL. Norges Bank acquired a new position in shares of Jabil in the 4th quarter valued at about $192,964,000. Vanguard Group Inc. lifted its position in Jabil by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock worth $1,919,948,000 after acquiring an additional 1,427,429 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Jabil during the 3rd quarter worth approximately $57,818,000. Artisan Partners Limited Partnership lifted its position in Jabil by 36.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after acquiring an additional 359,818 shares in the last quarter. Finally, Ceredex Value Advisors LLC lifted its position in Jabil by 72,212.5% during the 4th quarter. Ceredex Value Advisors LLC now owns 289,250 shares of the technology company’s stock worth $36,850,000 after acquiring an additional 288,850 shares in the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group boosted their price target on Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Barclays dropped their price objective on Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $147.14.

Jabil Price Performance

JBL stock opened at $126.04 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. Jabil Inc. has a 52-week low of $100.18 and a 52-week high of $156.94. The stock’s 50 day moving average is $120.51 and its two-hundred day moving average is $128.03. The company has a market capitalization of $15.20 billion, a PE ratio of 10.82, a P/E/G ratio of 1.56 and a beta of 1.35.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. Jabil’s dividend payout ratio (DPR) is 2.75%.

Insider Activity

In other news, EVP Gerald Creadon sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total value of $406,860.00. Following the completion of the sale, the executive vice president now directly owns 65,434 shares in the company, valued at approximately $8,874,159.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the sale, the chief executive officer now directly owns 339,725 shares in the company, valued at approximately $45,591,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gerald Creadon sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total value of $406,860.00. Following the completion of the sale, the executive vice president now owns 65,434 shares of the company’s stock, valued at $8,874,159.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,877 shares of company stock worth $3,519,883. 2.62% of the stock is currently owned by 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).