Crestline Management LP acquired a new position in shares of Juniper Networks, Inc. (NYSE:JNPR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,000 shares of the network equipment provider’s stock, valued at approximately $570,000.
Several other institutional investors also recently made changes to their positions in the stock. First Trust Advisors LP grew its stake in shares of Juniper Networks by 24.6% during the fourth quarter. First Trust Advisors LP now owns 8,988,140 shares of the network equipment provider’s stock worth $256,162,000 after purchasing an additional 1,772,303 shares during the period. Bank of New York Mellon Corp grew its stake in Juniper Networks by 7.7% in the fourth quarter. Bank of New York Mellon Corp now owns 7,304,607 shares of the network equipment provider’s stock valued at $208,182,000 after acquiring an additional 520,449 shares during the period. LSV Asset Management grew its stake in Juniper Networks by 3.7% in the fourth quarter. LSV Asset Management now owns 6,804,243 shares of the network equipment provider’s stock valued at $193,920,000 after acquiring an additional 242,600 shares during the period. Geode Capital Management LLC grew its stake in Juniper Networks by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 5,214,972 shares of the network equipment provider’s stock valued at $148,391,000 after acquiring an additional 203,465 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Juniper Networks by 4.0% in the third quarter. Dimensional Fund Advisors LP now owns 5,030,107 shares of the network equipment provider’s stock valued at $139,983,000 after acquiring an additional 191,951 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.
Shares of Juniper Networks, Inc. (NYSE JNPR) opened at $26.29 on Friday. Juniper Networks, Inc. has a twelve month low of $23.87 and a twelve month high of $30.96. The stock has a market capitalization of $9,006.42, a PE ratio of 32.46, a P/E/G ratio of 3.04 and a beta of 0.87. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.46.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Thursday, March 1st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, February 28th. This is a positive change from Juniper Networks’s previous quarterly dividend of $0.10. Juniper Networks’s dividend payout ratio is presently 88.89%.
Juniper Networks announced that its board 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
JNPR has been the subject of a number of research analyst reports. Raymond James Financial set a $31.00 target price on Juniper Networks and gave the company a “buy” rating in a research note on Thursday, December 7th. ValuEngine raised Juniper Networks from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. BMO Capital Markets reissued a “buy” rating and issued a $29.00 target price on shares of Juniper Networks in a research note on Sunday, February 11th. Standpoint Research raised Juniper Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Finally, TheStreet cut Juniper Networks from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $28.61.
In other Juniper Networks news, VP Terrance F. Spidell sold 8,409 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $26.47, for a total value of $222,586.23. Following the sale, the vice president now owns 3,944 shares in the company, valued at $104,397.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Rami Rahim sold 5,300 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $26.24, for a total value of $139,072.00. The disclosure for this sale can be found here. Insiders have sold 42,813 shares of company stock worth $1,124,709 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.
ILLEGAL ACTIVITY WARNING: This article was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://stocknewstimes.com/2018/03/17/crestline-management-lp-acquires-shares-of-20000-juniper-networks-inc-jnpr.html.
About Juniper Networks
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.
Want to see what other hedge funds are holding JNPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Juniper Networks, Inc. (NYSE:JNPR).
Receive News & Ratings for Juniper Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Juniper Networks and related companies with MarketBeat.com's FREE daily email newsletter.