ST. PETERSBURG, FL – Frederic E. McCoy, the Executive Vice President of Operations at Jabil Inc (NYSE:JBL), a leading company in the printed circuit boards industry, has sold 4,000 shares of company stock. The transaction, dated October 1, 2024, was executed at an average price of $118.702 per share, resulting in a total sale amount of $474,808.
The sale was made public through a recent SEC filing, which details the executive's post-transaction holdings. Following the sale, McCoy's direct ownership in Jabil Inc stands at 108,753 shares. The transaction reflects a routine sale by a company insider and is part of the standard disclosures required by corporate executives.
Jabil Inc, with a history of name change from Jabil Circuit Inc (NYSE:JBL), is incorporated in Delaware and has its fiscal year-end in August. The company's business address is located at 10800 Roosevelt Boulevard North, St. Petersburg, Florida.
Investors often monitor insider transactions as they can provide insights into an executive's confidence in the company's future performance. However, these transactions can be subject to various personal financial considerations and should not be taken as a sole indicator of a company's health or future trajectory.
The disclosed transaction does not necessarily indicate a shift in company strategy or performance and may be part of the executive's personal portfolio management. Jabil Inc has not issued any official statement regarding the transaction at this time.
In other recent news, Jabil Inc. has made significant strides in its growth strategy. The company recently acquired Mikros Technologies LLC, a specialist in liquid cooling solutions for thermal management. This acquisition aims to bolster Jabil's data center solutions and address thermal management needs in sectors such as AI, energy storage, and electric vehicles. Mikros Technologies' proprietary microchannel liquid cooling technologies, which can cool over one kilowatt per square centimeter, will enhance Jabil's service offerings in high-power density systems.
In addition, Jabil reported robust financial results for the fourth quarter and fiscal year 2024, with Q4 revenues reaching $7 billion. The company also completed a $2.5 billion share repurchase program and announced a new $1 billion buyback plan for fiscal year 2025. Jabil projects Q1 FY '25 revenues to be between $6.3 billion and $6.9 billion, with core earnings per share estimated at $1.65 to $2.05.
Jabil has also undergone a reorganization into three segments: Regulated Industries, Intelligent Infrastructure, and Connected Living & Digital Commerce. This strategic move, coupled with the divestiture of its Mobility business for $2.2 billion, reflects Jabil's commitment to focusing on profitable growth and returning value to shareholders. These are the recent developments from Jabil Inc., a company recognized for its comprehensive design, manufacturing, and supply chain solutions.
InvestingPro Insights
To provide additional context to Frederic E. McCoy's recent stock sale, let's examine some key financial metrics and insights from InvestingPro for Jabil Inc (NYSE:JBL).
As of the latest data, Jabil's market capitalization stands at $13.56 billion. The company's P/E ratio is currently 10.51, which is relatively low compared to its PEG ratio of 0.11 for the last twelve months as of Q4 2024. This suggests that the stock may be undervalued relative to its earnings growth potential.
One InvestingPro Tip highlights that Jabil has been aggressively buying back shares, which could be seen as a positive sign of management's confidence in the company's value. This share repurchase program might also explain why executives like McCoy may choose to sell shares as part of their personal financial planning, without necessarily indicating a lack of faith in the company's prospects.
Another relevant InvestingPro Tip notes that Jabil has maintained dividend payments for 19 consecutive years. This consistent dividend history demonstrates the company's commitment to returning value to shareholders, which may be reassuring to investors in light of insider sales.
It's worth noting that Jabil's revenue for the last twelve months as of Q4 2024 was $28.88 billion, although there has been a revenue decline of 16.77% over this period. Despite this, the company remains profitable, with analysts predicting continued profitability this year.
For investors seeking a more comprehensive analysis, InvestingPro offers 15 additional tips for Jabil, providing a deeper understanding of the company's financial health and market position.
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