Edgestream Partners L.P. Invests $780,000 in Jabil Inc. (NYSE:JBL)

Edgestream Partners L.P. acquired a new stake in shares of Jabil Inc. (NYSE:JBL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,170 shares of the technology company’s stock, valued at approximately $780,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Jabil by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock valued at $1,919,948,000 after purchasing an additional 1,427,429 shares during the last quarter. Primecap Management Co. CA grew its stake in Jabil by 3.0% during the 2nd quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock worth $400,660,000 after buying an additional 107,800 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Jabil by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock worth $178,058,000 after buying an additional 106,808 shares during the period. Bank of New York Mellon Corp lifted its stake in Jabil by 29.0% in the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after buying an additional 310,590 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of Jabil by 36.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock valued at $170,660,000 after acquiring an additional 359,818 shares during the period. Institutional investors own 93.39% of the company’s stock.

Insider Activity at Jabil

In other news, SVP May Yee Yap sold 4,274 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the sale, the senior vice president now owns 24,829 shares in the company, valued at approximately $2,905,986.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Frederic E. Mccoy sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the sale, the executive vice president now owns 112,753 shares in the company, valued at $13,126,704.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP May Yee Yap sold 4,274 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the transaction, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at approximately $2,905,986.16. The disclosure for this sale can be found here. Company insiders own 2.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on JBL shares. Barclays cut their price objective on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Bank of America reduced their price objective on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Stifel Nicolaus decreased their price objective on Jabil from $135.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. UBS Group cut their target price on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. decreased their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.88.

Jabil Stock Up 2.8 %

Shares of JBL stock opened at $113.96 on Friday. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. The business’s fifty day moving average is $107.08 and its 200-day moving average is $117.67. The stock has a market cap of $12.93 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25.

Jabil (NYSE:JBL) last released its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same period in the previous year, the company earned $1.85 earnings per share. Jabil’s revenue was down 20.2% compared to the same quarter last year. Equities analysts expect that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Jabil’s payout ratio is currently 2.91%.

Jabil Profile

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).