AMG National Trust Bank bought a new stake in Juniper Networks, Inc. (NYSE:JNPR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 46,899 shares of the network equipment provider’s stock, valued at approximately $1,160,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in shares of Juniper Networks by 261.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 37,974 shares of the network equipment provider’s stock valued at $940,000 after acquiring an additional 27,474 shares during the period. Private Ocean LLC purchased a new stake in Juniper Networks in the third quarter valued at $50,000. Daiwa Securities Group Inc. boosted its holdings in Juniper Networks by 18.0% in the third quarter. Daiwa Securities Group Inc. now owns 15,562 shares of the network equipment provider’s stock valued at $385,000 after purchasing an additional 2,372 shares during the last quarter. Tibra Equities Europe Ltd purchased a new stake in Juniper Networks in the third quarter valued at $1,190,000. Finally, Mackay Shields LLC boosted its holdings in Juniper Networks by 13.0% in the third quarter. Mackay Shields LLC now owns 58,338 shares of the network equipment provider’s stock valued at $1,444,000 after purchasing an additional 6,721 shares during the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on JNPR shares. Evercore ISI started coverage on shares of Juniper Networks in a report on Wednesday, September 11th. They issued an “inline” rating and a $26.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 price target on shares of Juniper Networks in a report on Friday, October 25th. Goldman Sachs Group set a $21.00 price target on shares of Juniper Networks and gave the company a “sell” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised shares of Juniper Networks from an “underweight” rating to a “neutral” rating and upped their price target for the company from $25.00 to $27.00 in a report on Tuesday, October 22nd. Finally, Rosenblatt Securities set a $25.00 price target on shares of Juniper Networks and gave the company a “hold” rating in a report on Tuesday, October 15th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Juniper Networks has an average rating of “Hold” and an average price target of $25.86.
Shares of JNPR stock traded down $0.21 during mid-day trading on Wednesday, hitting $24.29. 5,958,372 shares of the stock were exchanged, compared to its average volume of 3,434,850. The firm has a fifty day moving average of $25.05 and a 200 day moving average of $25.25. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.40. Juniper Networks, Inc. has a 52-week low of $22.42 and a 52-week high of $28.77. The company has a market cap of $8.39 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 3.49 and a beta of 0.98.
Juniper Networks (NYSE:JNPR) last posted its earnings results on Thursday, October 24th. The network equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. Juniper Networks had a net margin of 8.35% and a return on equity of 9.54%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company posted $0.54 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities analysts predict that Juniper Networks, Inc. will post 1.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Friday, November 29th. Juniper Networks’s payout ratio is currently 55.88%.
Juniper Networks announced that its board has approved a share buyback plan on Thursday, October 24th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In related news, EVP Bikash Koley sold 32,059 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.74, for a total value of $793,139.66. Following the transaction, the executive vice president now directly owns 59,375 shares of the company’s stock, valued at approximately $1,468,937.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rami Rahim sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $26.00, for a total transaction of $54,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,313 shares of company stock worth $2,541,791. Corporate insiders own 1.10% of the company’s stock.
About Juniper Networks
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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