Great West Life Assurance Co. Can Raises Stake in Jabil Inc. (NYSE:JBL)

Great West Life Assurance Co. Can raised its stake in Jabil Inc. (NYSE:JBLGet Rating) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,896 shares of the technology company’s stock after buying an additional 7,211 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.07% of Jabil worth $5,762,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC boosted its holdings in Jabil by 4.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,989 shares of the technology company’s stock valued at $246,000 after acquiring an additional 180 shares during the period. Commerce Bank raised its position in Jabil by 2.1% in the 2nd quarter. Commerce Bank now owns 9,229 shares of the technology company’s stock valued at $473,000 after purchasing an additional 190 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Jabil by 0.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 50,349 shares of the technology company’s stock valued at $2,578,000 after purchasing an additional 195 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Jabil by 0.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 46,353 shares of the technology company’s stock valued at $2,374,000 after purchasing an additional 234 shares in the last quarter. Finally, Sara Bay Financial raised its position in Jabil by 1.7% in the 2nd quarter. Sara Bay Financial now owns 16,358 shares of the technology company’s stock valued at $842,000 after purchasing an additional 281 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Thomas A. Sansone sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $78.25, for a total transaction of $782,500.00. Following the transaction, the director now owns 168,788 shares in the company, valued at approximately $13,207,661. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Jabil news, CEO Steven D. Borges sold 18,525 shares of Jabil stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $78.52, for a total value of $1,454,583.00. Following the transaction, the chief executive officer now directly owns 175,645 shares in the company, valued at approximately $13,791,645.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas A. Sansone sold 10,000 shares of Jabil stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $78.25, for a total value of $782,500.00. Following the completion of the transaction, the director now owns 168,788 shares in the company, valued at $13,207,661. The disclosure for this sale can be found here. Insiders have sold 230,422 shares of company stock worth $16,581,575 in the last quarter. 2.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

JBL has been the topic of a number of analyst reports. Citigroup increased their price target on Jabil from $80.00 to $85.00 in a research report on Friday, December 16th. Credit Suisse Group raised their target price on Jabil from $81.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com began coverage on Jabil in a research report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. UBS Group began coverage on Jabil in a research report on Tuesday, December 13th. They set a “neutral” rating and a $76.00 target price on the stock. Finally, Raymond James cut their target price on Jabil from $80.00 to $72.00 in a research report on Wednesday, September 28th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $78.40.

Jabil Trading Up 1.7 %

NYSE:JBL opened at $79.42 on Friday. The stock’s 50 day moving average price is $70.81 and its 200 day moving average price is $63.51. The company has a market capitalization of $10.58 billion, a PE ratio of 11.53, a P/E/G ratio of 0.86 and a beta of 1.37. The company has a quick ratio of 0.57, a current ratio of 1.02 and a debt-to-equity ratio of 1.02. Jabil Inc. has a 52-week low of $48.80 and a 52-week high of $79.67.

Jabil declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Jabil Profile

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Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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