DNB Asset Management AS lowered its holdings in Juniper Networks, Inc. (NYSE:JNPR) by 9.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 83,078 shares of the network equipment provider’s stock after selling 8,930 shares during the quarter. DNB Asset Management AS’s holdings in Juniper Networks were worth $2,199,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its stake in shares of Juniper Networks by 3,660.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,325,540 shares of the network equipment provider’s stock valued at $161,000 after purchasing an additional 4,210,511 shares during the period. Norges Bank purchased a new position in shares of Juniper Networks in the 4th quarter valued at approximately $85,569,000. Pzena Investment Management LLC purchased a new position in shares of Juniper Networks in the 4th quarter valued at approximately $70,194,000. Dodge & Cox lifted its stake in shares of Juniper Networks by 4.9% in the 3rd quarter. Dodge & Cox now owns 41,586,457 shares of the network equipment provider’s stock valued at $1,246,346,000 after purchasing an additional 1,933,700 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Juniper Networks by 114.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,554,872 shares of the network equipment provider’s stock valued at $106,540,000 after purchasing an additional 1,896,554 shares during the period. Institutional investors and hedge funds own 90.58% of the company’s stock.
JNPR stock opened at $27.93 on Wednesday. Juniper Networks, Inc. has a twelve month low of $23.61 and a twelve month high of $30.80. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.49 and a quick ratio of 2.49. The company has a market cap of $9.63 billion, a P/E ratio of 20.44, a P/E/G ratio of 2.86 and a beta of 0.84.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 1st were issued a $0.19 dividend. The ex-dividend date was Thursday, February 28th. This represents a $0.76 annualized dividend and a dividend yield of 2.72%. This is a positive change from Juniper Networks’s previous quarterly dividend of $0.18. Juniper Networks’s payout ratio is presently 55.88%.
In related news, EVP Bikash Koley sold 2,232 shares of Juniper Networks stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $27.05, for a total value of $60,375.60. Following the completion of the sale, the executive vice president now owns 56,739 shares of the company’s stock, valued at $1,534,789.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth Bradley Miller sold 7,000 shares of Juniper Networks stock in a transaction on Friday, February 1st. The stock was sold at an average price of $26.00, for a total value of $182,000.00. The disclosure for this sale can be found here. Insiders sold 27,033 shares of company stock valued at $698,957 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Juniper Networks from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. Credit Suisse Group set a $21.00 price objective on Juniper Networks and gave the company a “sell” rating in a research report on Wednesday, January 16th. JPMorgan Chase & Co. reduced their price objective on Juniper Networks from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, January 30th. Bank of America lowered Juniper Networks from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $33.00 to $25.00 in a research report on Wednesday, January 30th. Finally, Piper Jaffray Companies set a $27.00 price objective on Juniper Networks and gave the company a “hold” rating in a research report on Tuesday, March 5th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.64.
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Juniper Networks Profile
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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