Bank of Nova Scotia Reduces Holdings in Jabil Inc. (NYSE:JBL)

Bank of Nova Scotia decreased its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 92.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,079 shares of the technology company's stock after selling 189,284 shares during the period. Bank of Nova Scotia's holdings in Jabil were worth $2,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Jabil by 33.5% during the 3rd quarter. Barclays PLC now owns 327,969 shares of the technology company's stock valued at $39,300,000 after purchasing an additional 82,312 shares during the last quarter. Toronto Dominion Bank grew its holdings in Jabil by 2.8% during the 3rd quarter. Toronto Dominion Bank now owns 41,906 shares of the technology company's stock valued at $5,022,000 after buying an additional 1,146 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Jabil by 157.9% during the 3rd quarter. Virtu Financial LLC now owns 15,091 shares of the technology company's stock valued at $1,808,000 after acquiring an additional 9,239 shares during the last quarter. Te Ahumairangi Investment Management Ltd raised its stake in shares of Jabil by 365.6% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 20,767 shares of the technology company's stock valued at $2,474,000 after acquiring an additional 16,307 shares during the period. Finally, Sanctuary Advisors LLC grew its holdings in Jabil by 1.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 46,101 shares of the technology company's stock valued at $6,045,000 after purchasing an additional 573 shares during the last quarter. 93.39% of the stock is owned by institutional investors.

Jabil Stock Performance

Shares of NYSE:JBL traded up $1.10 during trading on Friday, hitting $134.97. 1,016,031 shares of the stock traded hands, compared to its average volume of 1,485,080. The company has a fifty day moving average price of $143.60 and a two-hundred day moving average price of $141.28. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.65 and a beta of 1.12. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

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

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. Jabil's dividend payout ratio (DPR) is presently 7.66%.

Analyst Ratings Changes

JBL has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their target price on Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research note on Thursday. StockNews.com upgraded shares of Jabil from a "hold" rating to a "buy" rating in a report on Friday, March 21st. UBS Group boosted their price target on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. The Goldman Sachs Group cut their target price on Jabil from $175.00 to $146.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $160.00 price objective (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $158.50.

Insiders Place Their Bets

In other Jabil news, Director John C. Plant sold 50,000 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the sale, the director now directly owns 5,900 shares in the company, valued at $1,018,045. This represents a 89.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher S. Holland sold 3,400 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $162.27, for a total value of $551,718.00. Following the sale, the director now directly owns 12,900 shares in the company, valued at $2,093,283. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,400 shares of company stock valued at $11,810,418. Insiders own 1.73% of the company's stock.

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).