PNC Financial Services Group Inc. Has $5.45 Million Stock Position in Jabil, Inc. (NYSE:JBL)

PNC Financial Services Group Inc. lifted its holdings in Jabil, Inc. (NYSE:JBL - Free Report) by 11.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,014 shares of the technology company's stock after purchasing an additional 4,069 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Jabil were worth $5,445,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in JBL. Cordatus Wealth Management LLC raised its stake in shares of Jabil by 2.9% during the 1st quarter. Cordatus Wealth Management LLC now owns 2,429 shares of the technology company's stock worth $330,000 after purchasing an additional 68 shares in the last quarter. Allworth Financial LP raised its position in Jabil by 22.5% during the first quarter. Allworth Financial LP now owns 529 shares of the technology company's stock worth $77,000 after acquiring an additional 97 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Jabil by 21.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock valued at $77,000 after acquiring an additional 99 shares during the last quarter. Utah Retirement Systems grew its position in shares of Jabil by 0.5% in the 4th quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock valued at $2,645,000 after acquiring an additional 100 shares during the period. Finally, Apollon Wealth Management LLC increased its stake in shares of Jabil by 5.9% during the 1st quarter. Apollon Wealth Management LLC now owns 2,004 shares of the technology company's stock worth $273,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on JBL. Wall Street Zen cut Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Raymond James Financial reiterated a "strong-buy" rating and set a $230.00 target price (up from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Barclays increased their price target on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Stifel Nicolaus assumed coverage on Jabil in a report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price target for the company. Finally, Bank of America lifted their price objective on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Jabil presently has an average rating of "Buy" and a consensus price target of $231.71.

Insider Buying and Selling at Jabil

In other news, CEO Michael Dastoor sold 18,234 shares of Jabil stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $191.66, for a total value of $3,494,728.44. Following the completion of the sale, the chief executive officer directly owned 203,459 shares in the company, valued at approximately $38,994,951.94. The trade was a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark T. Mondello sold 150,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $193.33, for a total value of $28,999,500.00. Following the sale, the chairman directly owned 1,560,192 shares in the company, valued at $301,631,919.36. This represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 342,847 shares of company stock valued at $68,233,847 in the last quarter. Company insiders own 1.73% of the company's stock.

Jabil Stock Performance

Shares of NYSE JBL traded up $4.03 during trading hours on Friday, reaching $224.52. 1,315,372 shares of the stock were exchanged, compared to its average volume of 1,415,031. The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 43.60, a P/E/G ratio of 1.54 and a beta of 1.20. The stock's fifty day simple moving average is $208.39 and its 200 day simple moving average is $170.55. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. Jabil, Inc. has a 52 week low of $99.67 and a 52 week high of $232.84.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period in the prior year, the firm posted $1.89 EPS. The company's revenue for the quarter was up 15.7% on a year-over-year basis. Sell-side analysts predict that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Company 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).