Envestnet Portfolio Solutions Inc. Makes New Investment in Jabil Inc. (NYSE:JBL)

Envestnet Portfolio Solutions Inc. purchased a new position in shares of Jabil Inc. (NYSE:JBL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,457 shares of the technology company's stock, valued at approximately $3,375,000.

A number of other large investors have also added to or reduced their stakes in JBL. Pacer Advisors Inc. grew its position in Jabil by 12,251.7% during the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company's stock worth $264,391,000 after buying an additional 2,188,521 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Jabil by 406.5% during the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company's stock worth $86,613,000 after purchasing an additional 580,100 shares during the last quarter. FMR LLC lifted its stake in Jabil by 11.3% during the third quarter. FMR LLC now owns 5,116,308 shares of the technology company's stock worth $613,087,000 after purchasing an additional 520,672 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Jabil during the fourth quarter worth $43,312,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Jabil by 595.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 343,137 shares of the technology company's stock worth $41,118,000 after purchasing an additional 293,801 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Price Performance

Shares of JBL traded up $1.19 during trading hours on Friday, reaching $145.02. The stock had a trading volume of 3,299,699 shares, compared to its average volume of 1,391,993. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $174.80. The stock has a market capitalization of $15.83 billion, a PE ratio of 13.90, a PEG ratio of 1.65 and a beta of 1.19. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The company's 50-day moving average is $155.96 and its two-hundred day moving average is $138.15.

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Jabil (NYSE:JBL - Get Free Report) last announced its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.11. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. Jabil's revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company earned $1.68 EPS. Research analysts expect that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil's dividend payout ratio is currently 3.07%.

Insider Buying and Selling

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the completion of the sale, the director now directly owns 119,108 shares in the company, valued at approximately $18,021,040.40. This trade represents a 14.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $149.81, for a total value of $599,240.00. Following the sale, the executive vice president now owns 138,472 shares of the company's stock, valued at approximately $20,744,490.32. The trade was a 2.81 % decrease in their ownership of the stock. 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 in the last three months. Insiders own 1.73% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays upped their target price on Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research note on Friday. Stifel Nicolaus restated a "buy" rating and set a $160.00 target price (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their target price on Jabil from $172.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday. StockNews.com upgraded Jabil from a "hold" rating to a "buy" rating in a research note on Friday. Finally, UBS Group increased their price target on Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a research note on Friday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Jabil currently has an average rating of "Moderate Buy" and a consensus target price of $167.50.

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).