Texas Permanent School Fund cut its stake in Juniper Networks, Inc. (NYSE:JNPR – Get Rating) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,179 shares of the network equipment provider’s stock after selling 2,672 shares during the quarter. Texas Permanent School Fund’s holdings in Juniper Networks were worth $1,567,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Schroder Investment Management Group increased its holdings in shares of Juniper Networks by 1,089.5% in the 4th quarter. Schroder Investment Management Group now owns 206,131 shares of the network equipment provider’s stock valued at $7,361,000 after acquiring an additional 188,802 shares during the period. Nuveen Asset Management LLC grew its stake in Juniper Networks by 308.0% during the 4th quarter. Nuveen Asset Management LLC now owns 3,832,774 shares of the network equipment provider’s stock worth $136,869,000 after buying an additional 2,893,408 shares during the last quarter. Advisor Partners LLC grew its stake in Juniper Networks by 7.8% during the 1st quarter. Advisor Partners LLC now owns 6,595 shares of the network equipment provider’s stock worth $245,000 after buying an additional 475 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in Juniper Networks by 29.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,227 shares of the network equipment provider’s stock worth $258,000 after buying an additional 1,655 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC purchased a new position in Juniper Networks during the 1st quarter worth $4,583,000. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
Juniper Networks Stock Performance
Shares of JNPR stock opened at $28.91 on Friday. The stock has a market cap of $9.33 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.99 and a beta of 0.88. The business has a 50-day simple moving average of $28.50 and a 200-day simple moving average of $31.83. The company has a quick ratio of 1.37, a current ratio of 1.58 and a debt-to-equity ratio of 0.38. Juniper Networks, Inc. has a 52-week low of $26.20 and a 52-week high of $38.14.
Juniper Networks Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st will be issued a $0.21 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 2.91%. Juniper Networks’s dividend payout ratio (DPR) is presently 70.59%.
Insider Activity
In other news, CEO Rami Rahim sold 5,555 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $28.54, for a total value of $158,539.70. Following the completion of the transaction, the chief executive officer now owns 857,485 shares of the company’s stock, valued at approximately $24,472,621.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 23,610 shares of company stock valued at $665,163 in the last quarter. 1.30% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several brokerages recently weighed in on JNPR. JPMorgan Chase & Co. upgraded Juniper Networks from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $37.00 to $36.00 in a research note on Thursday, July 14th. Wells Fargo & Company dropped their target price on Juniper Networks to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Credit Suisse Group dropped their target price on Juniper Networks from $28.00 to $27.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 27th. Bank of America downgraded Juniper Networks from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $40.00 to $32.00 in a research note on Wednesday, July 20th. Finally, Piper Sandler cut Juniper Networks from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $34.00 to $27.00 in a research report on Wednesday, July 13th. Four analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.41.
Juniper Networks Company Profile
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Juniper Networks, Inc designs, develops, and sells network products and services worldwide. The company offers routing products, such as ACX series universal access routers to deploy high-bandwidth services; MX series Ethernet routers that function as a universal edge platform; PTX series packet transport routers; wide-area network SDN controllers; and session smart routers.
Further Reading
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