Putnam Investments LLC raised its holdings in Jabil Inc (NYSE:JBL) by 244.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 319,330 shares of the technology company’s stock after purchasing an additional 226,551 shares during the period. Putnam Investments LLC owned about 0.19% of Jabil worth $8,833,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Strs Ohio acquired a new stake in Jabil in the second quarter worth $30,790,000. Commonwealth Bank of Australia increased its position in Jabil by 248.7% in the second quarter. Commonwealth Bank of Australia now owns 175,128 shares of the technology company’s stock worth $4,841,000 after buying an additional 124,900 shares during the period. Bailard Inc. grew its stake in shares of Jabil by 39.6% in the second quarter. Bailard Inc. now owns 22,200 shares of the technology company’s stock worth $614,000 after purchasing an additional 6,300 shares in the last quarter. New Jersey Better Educational Savings Trust bought a new position in shares of Jabil in the second quarter worth $277,000. Finally, Oregon Public Employees Retirement Fund bought a new position in shares of Jabil in the second quarter worth $1,898,000. 89.88% of the stock is currently owned by institutional investors.
In related news, President William E. Peters sold 13,915 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $29.48, for a total value of $410,214.20. Following the completion of the sale, the president now directly owns 511,562 shares of the company’s stock, valued at approximately $15,080,847.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark T. Mondello sold 30,000 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $30.01, for a total value of $900,300.00. Following the sale, the chief executive officer now directly owns 1,801,889 shares of the company’s stock, valued at $54,074,688.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,245 shares of company stock valued at $2,618,431. Company insiders own 2.60% of the company’s stock.
Jabil (NYSE:JBL) last announced its quarterly earnings data on Tuesday, September 25th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.41 billion. Jabil had a return on equity of 16.56% and a net margin of 0.39%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. Equities analysts predict that Jabil Inc will post 2.64 earnings per share for the current year.
Several research analysts have recently issued reports on JBL shares. JPMorgan Chase & Co. set a $37.00 price target on Jabil and gave the stock a “buy” rating in a research note on Wednesday, September 26th. TheStreet cut Jabil from a “b-” rating to a “c+” rating in a research note on Tuesday. ValuEngine cut Jabil from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. Finally, Zacks Investment Research cut Jabil from a “hold” rating to a “sell” rating in a research note on Wednesday, June 20th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Jabil presently has a consensus rating of “Hold” and a consensus price target of $33.00.
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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