Comerica Bank cut its holdings in Juniper Networks, Inc. (NYSE:JNPR) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 83,450 shares of the network equipment provider’s stock after selling 7,622 shares during the quarter. Comerica Bank’s holdings in Juniper Networks were worth $2,040,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of JNPR. First Trust Advisors LP increased its stake in Juniper Networks by 24.6% in the fourth quarter. First Trust Advisors LP now owns 8,988,140 shares of the network equipment provider’s stock valued at $256,162,000 after purchasing an additional 1,772,303 shares during the period. Two Sigma Advisers LP increased its stake in Juniper Networks by 84.9% in the fourth quarter. Two Sigma Advisers LP now owns 3,581,931 shares of the network equipment provider’s stock valued at $102,085,000 after purchasing an additional 1,644,295 shares during the period. Schroder Investment Management Group increased its stake in Juniper Networks by 521.1% in the fourth quarter. Schroder Investment Management Group now owns 1,485,700 shares of the network equipment provider’s stock valued at $42,342,000 after purchasing an additional 1,246,500 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Juniper Networks in the fourth quarter valued at $30,993,000. Finally, Two Sigma Investments LP increased its stake in Juniper Networks by 210.0% in the fourth quarter. Two Sigma Investments LP now owns 1,271,697 shares of the network equipment provider’s stock valued at $36,243,000 after purchasing an additional 861,500 shares during the period. Institutional investors own 91.23% of the company’s stock.
In other Juniper Networks news, EVP Vincent Molinaro sold 6,243 shares of the company’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $27.00, for a total value of $168,561.00. Following the sale, the executive vice president now owns 28,417 shares of the company’s stock, valued at $767,259. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rami Rahim sold 16,100 shares of the company’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $26.05, for a total transaction of $419,405.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,433 shares of company stock worth $1,453,971. 2.60% of the stock is owned by insiders.
A number of research firms have commented on JNPR. Zacks Investment Research upgraded shares of Juniper Networks from a “strong sell” rating to a “hold” rating in a research note on Friday, May 18th. Credit Suisse Group set a $21.00 price objective on shares of Juniper Networks and gave the company a “sell” rating in a research note on Thursday, May 17th. Rosenblatt Securities began coverage on shares of Juniper Networks in a research note on Tuesday, May 8th. They issued a “neutral” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of Juniper Networks in a research note on Thursday, May 3rd. They issued an “underweight” rating and a $24.00 price objective on the stock. Finally, BMO Capital Markets boosted their price target on shares of Juniper Networks from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 2nd. Five investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.12.
JNPR stock opened at $27.01 on Friday. The stock has a market cap of $9.50 billion, a P/E ratio of 15.61, a P/E/G ratio of 4.08 and a beta of 0.98. Juniper Networks, Inc. has a 52 week low of $23.61 and a 52 week high of $30.44. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.41.
Juniper Networks (NYSE:JNPR) last released its quarterly earnings data on Tuesday, May 1st. The network equipment provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Juniper Networks had a net margin of 4.92% and a return on equity of 11.85%. The firm’s revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. equities analysts predict that Juniper Networks, Inc. will post 1.17 earnings per share for the current year.
Juniper Networks announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 30th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 22nd. Investors of record on Friday, June 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, May 31st. Juniper Networks’s dividend payout ratio is currently 41.62%.
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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