Parametric Portfolio Associates LLC Lowers Stock Position in Juniper Networks, Inc. (NYSE:JNPR)
Parametric Portfolio Associates LLC cut its stake in shares of Juniper Networks, Inc. (NYSE:JNPR) by 13.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,214,889 shares of the network equipment provider’s stock after selling 191,817 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.36% of Juniper Networks worth $30,069,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in JNPR. CKW Financial Group increased its stake in Juniper Networks by 20.0% during the second quarter. CKW Financial Group now owns 2,400 shares of the network equipment provider’s stock worth $64,000 after purchasing an additional 400 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Juniper Networks by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 106,918 shares of the network equipment provider’s stock valued at $2,646,000 after purchasing an additional 410 shares during the period. CSat Investment Advisory L.P. boosted its stake in shares of Juniper Networks by 33.7% in the second quarter. CSat Investment Advisory L.P. now owns 1,679 shares of the network equipment provider’s stock valued at $45,000 after purchasing an additional 423 shares during the period. Advisor Group Inc. boosted its stake in shares of Juniper Networks by 1.7% in the second quarter. Advisor Group Inc. now owns 33,470 shares of the network equipment provider’s stock valued at $893,000 after purchasing an additional 568 shares during the period. Finally, Washington Trust Bank grew its holdings in shares of Juniper Networks by 5.4% in the third quarter. Washington Trust Bank now owns 11,831 shares of the network equipment provider’s stock valued at $293,000 after purchasing an additional 606 shares in the last quarter. Institutional investors and hedge funds own 90.66% of the company’s stock.
In related news, EVP Bikash Koley sold 32,059 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $24.74, for a total value of $793,139.66. Following the completion of the sale, the executive vice president now directly owns 59,375 shares of the company’s stock, valued at $1,468,937.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kenneth Bradley Miller sold 7,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $25.13, for a total transaction of $175,910.00. Following the completion of the transaction, the chief financial officer now owns 70,333 shares of the company’s stock, valued at approximately $1,767,468.29. The disclosure for this sale can be found here. Insiders sold 100,313 shares of company stock worth $2,541,791 over the last quarter. 1.10% of the stock is currently owned by insiders.
Juniper Networks (NYSE:JNPR) last issued its earnings results on Thursday, October 24th. The network equipment provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. Juniper Networks had a return on equity of 9.54% and a net margin of 8.35%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. As a group, research analysts anticipate that Juniper Networks, Inc. will post 1.23 earnings per share for the current fiscal year.
Juniper Networks announced that its board has approved a share buyback program on Thursday, October 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 2nd will be paid a $0.19 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.76 annualized dividend and a yield of 3.10%. Juniper Networks’s dividend payout ratio is currently 55.88%.
Several brokerages recently weighed in on JNPR. JPMorgan Chase & Co. raised shares of Juniper Networks from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $25.00 to $27.00 in a research note on Tuesday, October 22nd. Goldman Sachs Group set a $21.00 price target on shares of Juniper Networks and gave the company a “sell” rating in a research report on Friday, October 25th. Raymond James set a $29.00 price target on shares of Juniper Networks and gave the stock a “buy” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “buy” rating and issued a $29.00 price target on shares of Juniper Networks in a research note on Friday, October 25th. Finally, Rosenblatt Securities set a $25.00 price objective on Juniper Networks and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Juniper Networks presently has an average rating of “Hold” and an average target price of $25.86.
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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