HighTower Advisors LLC Sells 13,432 Shares of Jabil Inc. (NYSE:JBL)

HighTower Advisors LLC reduced its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 24.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,543 shares of the technology company's stock after selling 13,432 shares during the period. HighTower Advisors LLC's holdings in Jabil were worth $4,859,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new stake in Jabil in the third quarter valued at $5,964,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Jabil by 595.5% in the 3rd 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. Verition Fund Management LLC increased its position in shares of Jabil by 102.6% during the 3rd quarter. Verition Fund Management LLC now owns 43,633 shares of the technology company's stock worth $5,229,000 after purchasing an additional 22,092 shares in the last quarter. Vinva Investment Management Ltd lifted its holdings in Jabil by 61.5% during the 3rd quarter. Vinva Investment Management Ltd now owns 16,673 shares of the technology company's stock valued at $2,040,000 after purchasing an additional 6,347 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Jabil by 6.5% in the third quarter. Public Sector Pension Investment Board now owns 4,926 shares of the technology company's stock valued at $590,000 after buying an additional 300 shares in the last quarter. Institutional investors own 93.39% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Jabil from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. StockNews.com raised Jabil from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 27th. Barclays boosted their price objective on Jabil from $135.00 to $157.00 and gave the stock an "overweight" rating in a research note on Friday, September 27th. Bank of America raised their target price on Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Jabil presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.17.

Insider Activity

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now owns 139,108 shares of the company's stock, valued at approximately $17,346,767.60. This represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frederic E. Mccoy sold 4,283 shares of Jabil stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $122.28, for a total transaction of $523,725.24. Following the transaction, the executive vice president now directly owns 142,472 shares in the company, valued at approximately $17,421,476.16. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock valued at $5,377,431 in the last 90 days. 2.62% of the stock is owned by company insiders.

Jabil Trading Up 0.7 %

Shares of JBL stock traded up $0.97 on Wednesday, reaching $133.72. 673,287 shares of the stock were exchanged, compared to its average volume of 1,418,590. 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 Inc. has a one year low of $95.85 and a one year high of $156.94. The stock has a market cap of $15.09 billion, a PE ratio of 12.13, a P/E/G ratio of 1.59 and a beta of 1.25. The stock has a 50 day moving average price of $128.97 and a 200 day moving average price of $117.35.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company's quarterly revenue was down 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.34 EPS. Equities research analysts forecast that Jabil Inc. will post 7.89 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Friday, November 15th. Jabil's payout ratio is 2.90%.

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).