Jabil Circuit, Inc. (NYSE:JBL) Position Decreased by Foundry Partners LLC

Foundry Partners LLC lowered its stake in shares of Jabil Circuit, Inc. (NYSE:JBL) by 6.3% during the second quarter, Holdings Channel reports. The firm owned 306,595 shares of the technology company’s stock after selling 20,735 shares during the period. Foundry Partners LLC’s holdings in Jabil Circuit were worth $8,950,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management boosted its position in Jabil Circuit by 29.8% in the first quarter. LSV Asset Management now owns 2,747,837 shares of the technology company’s stock valued at $79,467,000 after buying an additional 631,653 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Jabil Circuit by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 66,712 shares of the technology company’s stock valued at $1,929,000 after buying an additional 900 shares during the last quarter. Pegasus Partners Ltd. boosted its stake in Jabil Circuit by 0.7% in the first quarter. Pegasus Partners Ltd. now owns 32,719 shares of the technology company’s stock valued at $946,000 after buying an additional 232 shares during the last quarter. Greenwich Wealth Management LLC boosted its stake in Jabil Circuit by 1.0% in the first quarter. Greenwich Wealth Management LLC now owns 24,330 shares of the technology company’s stock valued at $704,000 after buying an additional 230 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Jabil Circuit by 5.6% in the first quarter. Russell Investments Group Ltd. now owns 230,603 shares of the technology company’s stock valued at $6,671,000 after buying an additional 12,235 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Jabil Circuit, Inc. (NYSE JBL) opened at 29.22 on Friday. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 44.95 and a beta of 0.56. The firm’s 50 day moving average price is $30.19 and its 200 day moving average price is $28.49. Jabil Circuit, Inc. has a 52-week low of $20.32 and a 52-week high of $31.70.

Jabil Circuit (NYSE:JBL) last posted its earnings results on Wednesday, June 14th. The technology company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts anticipate that Jabil Circuit, Inc. will post $2.09 EPS for the current fiscal year.

Jabil Circuit declared that its board has authorized a share buyback plan on Thursday, July 20th that authorizes the company to repurchase $450.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. Jabil Circuit’s dividend payout ratio is presently 50.00%.

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Several equities research analysts have commented on the company. BidaskClub cut Jabil Circuit from a “buy” rating to a “hold” rating in a research note on Saturday. J P Morgan Chase & Co assumed coverage on Jabil Circuit in a research note on Wednesday, August 2nd. They issued an “overweight” rating and a $40.00 target price on the stock. Macquarie assumed coverage on Jabil Circuit in a research note on Thursday, June 22nd. They issued an “outperform” rating on the stock. Zacks Investment Research upgraded Jabil Circuit from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, June 20th. Finally, Bank of America Corporation restated a “buy” rating and issued a $34.00 target price (up previously from $33.00) on shares of Jabil Circuit in a research note on Monday, June 19th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.77.

In other news, Director Frank A. Newman sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $29.52, for a total value of $1,771,200.00. Following the transaction, the director now owns 127,665 shares in the company, valued at $3,768,670.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas A. Sansone sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $31.25, for a total value of $781,250.00. Following the completion of the transaction, the director now owns 176,688 shares in the company, valued at approximately $5,521,500. The disclosure for this sale can be found here. Insiders sold 305,495 shares of company stock worth $9,205,242 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Jabil Circuit Company Profile

Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.

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Institutional Ownership by Quarter for Jabil Circuit (NYSE:JBL)

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