State of Tennessee Treasury Department raised its stake in shares of Juniper Networks, Inc. (NYSE:JNPR) by 4.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 164,322 shares of the network equipment provider’s stock after buying an additional 6,477 shares during the period. State of Tennessee Treasury Department’s holdings in Juniper Networks were worth $4,067,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its position in shares of Juniper Networks by 20,685.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,769,287 shares of the network equipment provider’s stock valued at $47,116,000 after buying an additional 1,760,775 shares during the period. Balyasny Asset Management LLC raised its position in Juniper Networks by 622.5% in the second quarter. Balyasny Asset Management LLC now owns 1,201,754 shares of the network equipment provider’s stock valued at $32,003,000 after purchasing an additional 1,431,754 shares during the period. APG Asset Management N.V. raised its position in Juniper Networks by 29.2% in the second quarter. APG Asset Management N.V. now owns 3,995,245 shares of the network equipment provider’s stock valued at $93,426,000 after purchasing an additional 904,100 shares during the period. Bessemer Group Inc. raised its position in Juniper Networks by 2,689.4% in the second quarter. Bessemer Group Inc. now owns 661,861 shares of the network equipment provider’s stock valued at $17,625,000 after purchasing an additional 638,133 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Juniper Networks in the second quarter valued at approximately $10,650,000. Institutional investors and hedge funds own 90.41% of the company’s stock.
In other news, Director William Stensrud sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $24.00, for a total value of $240,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brian Martin sold 44,154 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $25.72, for a total transaction of $1,135,640.88. Following the completion of the transaction, the senior vice president now directly owns 42,746 shares in the company, valued at approximately $1,099,427.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,213 shares of company stock worth $2,344,691. 1.10% of the stock is owned by company insiders.
Shares of JNPR stock opened at $25.75 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.13 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $24.30 and a 200 day moving average price of $25.47. The company has a market cap of $8.76 billion, a P/E ratio of 18.93, a PEG ratio of 3.52 and a beta of 0.99. Juniper Networks, Inc. has a 12 month low of $22.42 and a 12 month high of $30.80.
Juniper Networks (NYSE:JNPR) last issued its earnings results on Thursday, October 24th. The network equipment provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Juniper Networks had a net margin of 8.35% and a return on equity of 9.54%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts forecast that Juniper Networks, Inc. will post 1.23 EPS for the current year.
Juniper Networks declared that its Board of Directors has approved a share buyback plan on Thursday, October 24th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire up to 11.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be issued a $0.19 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.95%. Juniper Networks’s dividend payout ratio (DPR) is presently 55.88%.
JNPR has been the topic of a number of recent research reports. Oppenheimer set a $29.00 price objective on Juniper Networks and gave the stock a “buy” rating in a research report on Friday, October 25th. Goldman Sachs Group set a $21.00 price objective on Juniper Networks and gave the stock a “sell” rating in a research report on Friday, October 25th. Raymond James set a $29.00 price objective on Juniper Networks and gave the stock a “buy” rating in a research report on Friday, September 6th. Zacks Investment Research lowered Juniper Networks from a “hold” rating to a “sell” rating and set a $26.00 price objective on the stock. in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised Juniper Networks from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $25.00 to $27.00 in a research report on Tuesday, October 22nd. Five analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $26.13.
Juniper Networks Company Profile
Juniper Networks, Inc designs, develops, and sells network products and services worldwide. The company offers various routing products, such as ACX series universal access routers to deploy new high-bandwidth services; MX series Ethernet routers that functions as a universal edge platform; PTX series packet transport routers; cloud customer premises equipment; and NorthStar controllers.
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