PNC Financial Services Group Inc. Has $4.28 Million Holdings in Jabil Inc. (NYSE:JBL)

PNC Financial Services Group Inc. grew its position in shares of Jabil Inc. (NYSE:JBL) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,734 shares of the technology company’s stock after purchasing an additional 1,013 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Jabil were worth $4,282,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in shares of Jabil by 12.2% in the 1st quarter. Advisors Asset Management Inc. now owns 12,439 shares of the technology company’s stock worth $1,666,000 after buying an additional 1,355 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Jabil by 4.8% in the first quarter. Janus Henderson Group PLC now owns 444,736 shares of the technology company’s stock worth $59,536,000 after buying an additional 20,437 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Jabil by 32.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 22,900 shares of the technology company’s stock worth $2,906,000 after buying an additional 5,606 shares in the last quarter. Redwood Investment Management LLC boosted its stake in Jabil by 1.4% in the first quarter. Redwood Investment Management LLC now owns 11,228 shares of the technology company’s stock worth $1,504,000 after buying an additional 160 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Jabil by 39.7% during the first quarter. Tidal Investments LLC now owns 14,282 shares of the technology company’s stock valued at $1,913,000 after purchasing an additional 4,056 shares during the period. Institutional investors own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stifel Nicolaus raised their price target on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays raised their price target on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Bank of America lifted their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. reduced their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Jabil currently has an average rating of “Moderate Buy” and an average price target of $143.50.

Jabil Trading Up 0.4 %

Shares of NYSE JBL opened at $131.12 on Monday. The business has a fifty day moving average price of $123.82 and a 200 day moving average price of $115.81. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The stock has a market capitalization of $14.80 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company’s revenue was down 17.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.34 earnings per share. Equities research analysts expect that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. Jabil’s dividend payout ratio is currently 2.90%.

Insiders Place Their Bets

In other news, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the sale, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the completion of the transaction, the executive vice president now owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. This trade represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is owned by corporate 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).