Connor Clark & Lunn Investment Management Ltd. Has $13.27 Million Stock Position in Jabil Inc. (NYSE:JBL)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Jabil Inc. (NYSE:JBL) by 2,750.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 110,701 shares of the technology company’s stock after acquiring an additional 106,818 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Jabil were worth $13,265,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in JBL. CANADA LIFE ASSURANCE Co lifted its stake in Jabil by 0.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 61,616 shares of the technology company’s stock worth $8,254,000 after purchasing an additional 555 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Jabil in the 1st quarter valued at approximately $173,000. Advisors Asset Management Inc. boosted its position in Jabil by 12.2% in the first quarter. Advisors Asset Management Inc. now owns 12,439 shares of the technology company’s stock valued at $1,666,000 after buying an additional 1,355 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Jabil during the first quarter worth $322,000. Finally, Hyperion Capital Advisors LP acquired a new position in shares of Jabil during the first quarter worth $220,000. 93.39% of the stock is owned by institutional investors.

Insider Buying and Selling at Jabil

In other news, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the completion of the sale, the director now directly owns 139,108 shares of the company’s stock, valued at $17,346,767.60. The trade was a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the completion of the transaction, the executive vice president now directly owns 18,568 shares in the company, valued at approximately $2,336,411.44. The trade was a 6.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,689 shares of company stock valued at $5,377,431. Company insiders own 2.62% of the company’s stock.

Jabil Trading Up 1.7 %

NYSE:JBL opened at $130.40 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. The firm has a market cap of $14.71 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.50 and a beta of 1.24. The firm’s fifty day moving average is $123.32 and its 200-day moving average is $115.75. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $156.94.

Jabil (NYSE:JBL) last released its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.59 billion. During the same quarter in the previous year, the company earned $2.34 EPS. Jabil’s quarterly revenue was down 17.7% compared to the same quarter last year. Equities analysts expect that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued a $0.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.25%. Jabil’s payout ratio is currently 2.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on JBL shares. Barclays raised their price objective on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. JPMorgan Chase & Co. reduced their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Stifel Nicolaus raised their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Bank of America boosted their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

About Jabil

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).