PNC Financial Services Group Inc. Purchases 211 Shares of Jabil Inc. (NYSE:JBL)

PNC Financial Services Group Inc. boosted its position in Jabil Inc. (NYSE:JBL) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 35,945 shares of the technology company’s stock after acquiring an additional 211 shares during the period. PNC Financial Services Group Inc.’s holdings in Jabil were worth $5,172,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JBL. SBI Securities Co. Ltd. bought a new stake in Jabil in the 4th quarter valued at about $27,000. Brooklyn Investment Group bought a new stake in Jabil in the 3rd quarter valued at about $39,000. First Horizon Advisors Inc. raised its stake in Jabil by 90.3% in the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock valued at $39,000 after acquiring an additional 130 shares during the period. GHP Investment Advisors Inc. bought a new stake in Jabil in the 4th quarter valued at about $43,000. Finally, Smartleaf Asset Management LLC raised its stake in Jabil by 113.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock valued at $43,000 after acquiring an additional 158 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

JBL has been the topic of several analyst reports. UBS Group upped their price target on Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. The Goldman Sachs Group upped their price target on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, February 24th. StockNews.com cut Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays upped their price target on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.83.

Jabil Stock Up 1.2 %

JBL stock opened at $133.98 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The company’s 50 day moving average is $157.79 and its 200 day moving average is $136.65. The stock has a market cap of $14.63 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.12. The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. Jabil’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 business earned $2.60 earnings per share. Sell-side analysts predict that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s dividend payout ratio is currently 3.07%.

Insiders Place Their Bets

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the sale, the director now owns 119,108 shares of the company’s stock, valued at $18,021,040.40. This represents a 14.38 % 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, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the sale, the executive vice president now directly owns 138,472 shares of the company’s stock, valued at approximately $20,744,490.32. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,400 shares of company stock valued at $12,804,458 over the last quarter. 1.73% of the stock is owned by corporate 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).