Victory Capital Management Inc. Grows Holdings in John Bean Technologies Co. (NYSE:JBT)

Victory Capital Management Inc. increased its stake in John Bean Technologies Co. (NYSE:JBT) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 878,152 shares of the industrial products company’s stock after buying an additional 51,608 shares during the period. Victory Capital Management Inc. owned about 2.76% of John Bean Technologies worth $87,332,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC increased its position in shares of John Bean Technologies by 2.3% in the 4th quarter. Conestoga Capital Advisors LLC now owns 920,281 shares of the industrial products company’s stock worth $91,522,000 after purchasing an additional 21,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in John Bean Technologies by 1.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 383,504 shares of the industrial products company’s stock valued at $38,139,000 after buying an additional 6,327 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in John Bean Technologies by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 343,967 shares of the industrial products company’s stock worth $36,165,000 after buying an additional 14,280 shares during the last quarter. WCM Investment Management LLC grew its position in shares of John Bean Technologies by 2.6% in the 4th quarter. WCM Investment Management LLC now owns 160,932 shares of the industrial products company’s stock worth $16,291,000 after acquiring an additional 4,022 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of John Bean Technologies in the 4th quarter valued at approximately $12,594,000. 98.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Robert W. Baird reaffirmed an “outperform” rating and issued a $121.00 price objective on shares of John Bean Technologies in a report on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.00.

John Bean Technologies Stock Performance

Shares of NYSE JBT opened at $91.14 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $97.48 and its two-hundred day moving average price is $100.08. John Bean Technologies Co. has a 52-week low of $88.03 and a 52-week high of $125.88. The stock has a market capitalization of $2.90 billion, a P/E ratio of 4.86, a P/E/G ratio of 1.45 and a beta of 1.29.

John Bean Technologies (NYSE:JBT) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. John Bean Technologies had a return on equity of 10.56% and a net margin of 36.12%. The business had revenue of $392.30 million for the quarter, compared to the consensus estimate of $396.55 million. During the same quarter last year, the business posted $0.94 EPS. The business’s revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that John Bean Technologies Co. will post 5.1 earnings per share for the current year.

John Bean Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were given a dividend of $0.10 per share. The ex-dividend date was Friday, March 8th. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. John Bean Technologies’s dividend payout ratio is currently 2.13%.

John Bean Technologies Profile

John Bean Technologies 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.