Public Sector Pension Investment Board Purchases 44,962 Shares of JBT Marel Corporation $JBTM

Public Sector Pension Investment Board boosted its position in shares of JBT Marel Corporation (NYSE:JBTM) by 28.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,690 shares of the company’s stock after acquiring an additional 44,962 shares during the period. Public Sector Pension Investment Board owned 0.39% of JBT Marel worth $28,468,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Summit Global Investments acquired a new stake in JBT Marel during the third quarter worth $1,052,000. Diversified Trust Co acquired a new position in shares of JBT Marel in the 3rd quarter valued at $1,061,000. Confluence Investment Management LLC bought a new position in shares of JBT Marel during the 3rd quarter worth about $12,034,000. Squarepoint Ops LLC boosted its position in shares of JBT Marel by 344.1% during the 2nd quarter. Squarepoint Ops LLC now owns 37,889 shares of the company’s stock valued at $4,557,000 after acquiring an additional 29,358 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in JBT Marel by 13.3% in the third quarter. New York State Common Retirement Fund now owns 120,212 shares of the company’s stock valued at $16,884,000 after acquiring an additional 14,105 shares during the period. 98.92% of the stock is currently owned by institutional investors.

Insider Transactions at JBT Marel

In other JBT Marel news, Director Olafur S. Gudmundsson sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $141.79, for a total value of $2,835,800.00. Following the transaction, the director owned 19,980 shares of the company’s stock, valued at approximately $2,832,964.20. The trade was a 50.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.69% of the company’s stock.

JBT Marel Stock Performance

NYSE JBTM opened at $163.72 on Friday. JBT Marel Corporation has a 1-year low of $90.08 and a 1-year high of $170.19. The company has a 50 day moving average of $156.48 and a 200-day moving average of $144.47. The company has a current ratio of 0.93, a quick ratio of 0.53 and a debt-to-equity ratio of 0.34. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of -73.09, a PEG ratio of 1.59 and a beta of 1.01.

JBT Marel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, December 15th. JBT Marel’s dividend payout ratio (DPR) is currently -17.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on JBTM shares. Jefferies Financial Group upgraded shares of JBT Marel from a “hold” rating to a “buy” rating and raised their price target for the stock from $150.00 to $180.00 in a research note on Wednesday, December 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of JBT Marel in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.50.

About JBT Marel

JBT Marel Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.