Prudential PLC Makes New $506,000 Investment in Jabil, Inc. (NYSE:JBL)

Key Points

• Prudential PLC has acquired a new position in Jabil, Inc. worth approximately $506,000, purchasing 3,719 shares in the first quarter.
• Jabil recently reported earnings per share of $2.55, beating estimates, with a revenue increase of 15.7% year-over-year.
• The company declared a $0.08 per share dividend, scheduled to be paid on September 3rd, representing a yield of 14.0%.

Prudential PLC bought a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,719 shares of the technology company's stock, valued at approximately $506,000.

Other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its position in shares of Jabil by 84.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company's stock worth $1,846,000 after acquiring an additional 6,225 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Jabil by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company's stock worth $33,062,000 after acquiring an additional 18,126 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Jabil by 7.0% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company's stock worth $453,000 after acquiring an additional 217 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of Jabil during the first quarter worth $214,000. Finally, QRG Capital Management Inc. increased its holdings in shares of Jabil by 2.3% in the first quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company's stock worth $813,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 93.39% of the company's stock.

Jabil Stock Down 1.0%

JBL opened at $215.31 on Friday. The stock has a market cap of $23.11 billion, a PE ratio of 41.81, a P/E/G ratio of 1.52 and a beta of 1.20. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a 52 week low of $99.67 and a 52 week high of $232.84. The business's fifty day simple moving average is $214.36 and its 200 day simple moving average is $172.81.

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

Jabil Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th will be given a dividend of $0.08 per share. This represents a yield of 14.0%. The ex-dividend date is Friday, August 15th. Jabil's dividend payout ratio is presently 6.21%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on JBL. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $230.00 price target (up previously from $170.00) on shares of Jabil in a report on Wednesday, June 18th. Barclays upped their price target on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. UBS Group upped their price target on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Wall Street Zen cut shares of Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Argus raised shares of Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $231.71.

Insider Buying and Selling at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 4,500 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the completion of the sale, the executive vice president directly owned 124,203 shares in the company, valued at $27,765,580.65. This represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Anousheh Ansari sold 1,000 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total transaction of $222,750.00. Following the sale, the director owned 36,400 shares of the company's stock, valued at approximately $8,108,100. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 332,847 shares of company stock valued at $66,534,847. 1.73% of the stock is currently owned by insiders.

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).

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