Envestnet Portfolio Solutions Inc. Purchases New Holdings in Jabil Inc. (NYSE:JBL)

Envestnet Portfolio Solutions Inc. acquired a new position in shares of Jabil Inc. (NYSE:JBL) during the 4th quarter, Holdings Channel reports. The firm acquired 23,457 shares of the technology company’s stock, valued at approximately $3,375,000.

Other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Jabil in the fourth quarter valued at $27,000. First Horizon Advisors Inc. lifted its position in shares of Jabil by 90.3% during the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Jabil by 113.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock worth $43,000 after purchasing an additional 158 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in Jabil in the fourth quarter valued at about $43,000. Finally, Brooklyn Investment Group acquired a new stake in Jabil during the third quarter valued at approximately $39,000. 93.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the transaction, the executive vice president now owns 138,472 shares of the company’s stock, valued at approximately $20,744,490.32. This trade represents a 2.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $162.27, for a total transaction of $551,718.00. Following the completion of the sale, the director now directly owns 12,900 shares of the company’s stock, valued at approximately $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,400 shares of company stock valued at $12,804,458. Company insiders own 1.73% of the company’s stock.

Jabil Trading Up 2.7 %

Jabil stock opened at $139.29 on Thursday. The firm has a 50-day moving average price of $156.35 and a two-hundred day moving average price of $137.62. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The firm has a market capitalization of $15.21 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.65 and a beta of 1.19. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.60 EPS. Sell-side analysts expect that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. Jabil’s payout ratio is 3.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on JBL shares. UBS Group boosted their price target on Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. The Goldman Sachs Group increased their target price on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, February 24th. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Barclays increased their price objective on shares of Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 target price (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.83.

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).