Ontario Teachers Pension Plan Board raised its position in Juniper Networks, Inc. (NYSE:JNPR) by 37.1% in the fourth quarter, Holdings Channel reports. The fund owned 29,175 shares of the network equipment provider’s stock after purchasing an additional 7,901 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Juniper Networks were worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. bought a new position in shares of Juniper Networks in the third quarter valued at about $111,000. Cerebellum GP LLC bought a new position in shares of Juniper Networks in the fourth quarter valued at about $128,000. Exane Derivatives raised its position in shares of Juniper Networks by 278.1% in the fourth quarter. Exane Derivatives now owns 5,633 shares of the network equipment provider’s stock valued at $161,000 after purchasing an additional 4,143 shares during the period. Balter Liquid Alternatives LLC bought a new position in shares of Juniper Networks in the fourth quarter valued at about $163,000. Finally, Stevens First Principles Investment Advisors raised its position in shares of Juniper Networks by 40.9% in the third quarter. Stevens First Principles Investment Advisors now owns 7,045 shares of the network equipment provider’s stock valued at $196,000 after purchasing an additional 2,045 shares during the period. Hedge funds and other institutional investors own 86.51% of the company’s stock.
In other Juniper Networks news, EVP Vincent Molinaro sold 7,647 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $26.21, for a total value of $200,427.87. Following the transaction, the executive vice president now directly owns 17,989 shares of the company’s stock, valued at approximately $471,491.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Terrance F. Spidell sold 8,409 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $26.47, for a total transaction of $222,586.23. Following the completion of the sale, the vice president now owns 3,944 shares in the company, valued at $104,397.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,713 shares of company stock worth $440,221. Insiders own 2.60% of the company’s stock.
Juniper Networks (NYSE:JNPR) last released its earnings results on Tuesday, January 30th. The network equipment provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. Juniper Networks had a net margin of 6.26% and a return on equity of 13.34%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm earned $0.66 EPS. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. equities research analysts predict that Juniper Networks, Inc. will post 1.34 earnings per share for the current year.
Juniper Networks announced that its board has authorized a share repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 1st will be issued a $0.18 dividend. This is a positive change from Juniper Networks’s previous quarterly dividend of $0.10. This represents a $0.72 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, February 28th. Juniper Networks’s dividend payout ratio (DPR) is currently 49.38%.
Several equities analysts have recently weighed in on the stock. Piper Jaffray Companies reissued a “neutral” rating and issued a $27.00 price objective on shares of Juniper Networks in a research report on Wednesday, January 10th. Loop Capital dropped their price objective on shares of Juniper Networks to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Robert W. Baird reissued a “hold” rating and issued a $26.00 price objective on shares of Juniper Networks in a research report on Wednesday, January 31st. Nomura dropped their price objective on shares of Juniper Networks from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Finally, BMO Capital Markets reissued a “buy” rating and issued a $29.00 price objective on shares of Juniper Networks in a research report on Sunday, February 11th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $28.61.
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Juniper Networks Company Profile
Juniper Networks, Inc designs, develops and sells products and services for high-performance networks to enable customers to build networks for their businesses. The Company sells its products in over 100 countries in three geographic regions: Americas; Europe, the Middle East and Africa, and Asia Pacific.
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