Municipal Employees Retirement System of Michigan lifted its position in Juniper Networks, Inc. (NYSE:JNPR) by 41.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,280 shares of the network equipment provider’s stock after buying an additional 12,620 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Juniper Networks were worth $1,234,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in JNPR. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Juniper Networks during the third quarter valued at $111,000. Cerebellum GP LLC purchased a new position in shares of Juniper Networks during the fourth quarter valued at $128,000. Exane Derivatives grew its holdings in shares of Juniper Networks by 278.1% during the fourth quarter. Exane Derivatives now owns 5,633 shares of the network equipment provider’s stock valued at $161,000 after buying an additional 4,143 shares in the last quarter. Balter Liquid Alternatives LLC purchased a new position in shares of Juniper Networks during the fourth quarter valued at $163,000. Finally, Wetherby Asset Management Inc. purchased a new position in shares of Juniper Networks during the fourth quarter valued at $209,000. 95.45% of the stock is currently owned by institutional investors.
A number of research analysts have commented on JNPR shares. 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 upgraded Juniper Networks from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. BMO Capital Markets restated 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 upgraded Juniper Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Finally, TheStreet downgraded Juniper Networks from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Juniper Networks has an average rating of “Hold” and a consensus price target of $28.61.
Juniper Networks (NYSE:JNPR) last released its quarterly earnings results on Tuesday, January 30th. The network equipment provider reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. Juniper Networks had a return on equity of 13.34% and a net margin of 6.26%. Juniper Networks’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. analysts anticipate that Juniper Networks, Inc. will post 1.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Thursday, March 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This is a positive change from Juniper Networks’s previous quarterly dividend of $0.10. This represents a $0.72 dividend on an annualized basis and a yield of 2.85%. Juniper Networks’s dividend payout ratio is 88.89%.
Juniper Networks declared that its Board of Directors has approved a share buyback plan on Tuesday, January 30th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other Juniper Networks news, VP Terrance F. Spidell sold 8,409 shares of the stock in a transaction 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 transaction, the vice president now directly owns 3,944 shares in the company, valued at approximately $104,397.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rami Rahim sold 10,800 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $26.27, for a total value of $283,716.00. The disclosure for this sale can be found here. Insiders sold a total of 42,813 shares of company stock worth $1,124,709 over the last quarter. Corporate insiders own 2.60% of the company’s stock.
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.
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