Canada Pension Plan Investment Board Acquires 151,724 Shares of Juniper Networks, Inc. (JNPR)
Canada Pension Plan Investment Board boosted its holdings in Juniper Networks, Inc. (NYSE:JNPR) by 12.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,354,648 shares of the network equipment provider’s stock after buying an additional 151,724 shares during the period. Canada Pension Plan Investment Board owned approximately 0.36% of Juniper Networks worth $37,700,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Creative Planning grew its stake in Juniper Networks by 0.4% in the 2nd quarter. Creative Planning now owns 4,696 shares of the network equipment provider’s stock valued at $131,000 after buying an additional 21 shares in the last quarter. Acrospire Investment Management LLC grew its position in shares of Juniper Networks by 4.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 4,890 shares of the network equipment provider’s stock valued at $136,000 after purchasing an additional 201 shares in the last quarter. Petrus Trust Company LTA purchased a new position in shares of Juniper Networks during the 2nd quarter valued at $204,000. River Wealth Advisors LLC purchased a new position in shares of Juniper Networks during the 2nd quarter valued at $206,000. Finally, Synovus Financial Corp grew its position in shares of Juniper Networks by 1.9% during the 2nd quarter. Synovus Financial Corp now owns 7,462 shares of the network equipment provider’s stock valued at $208,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 90.97% of the company’s stock.
In related news, CEO Rami Rahim sold 5,300 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $27.47, for a total transaction of $145,591.00. Following the transaction, the chief executive officer now owns 469,607 shares in the company, valued at $12,900,104.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 26,700 shares of company stock worth $732,107. 2.60% of the stock is owned by insiders.
A number of research firms have recently commented on JNPR. BMO Capital Markets reduced their price target on shares of Juniper Networks from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, October 25th. Barclays PLC reduced their price target on shares of Juniper Networks from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 25th. Robert W. Baird restated a “hold” rating and set a $26.00 price target (down from $28.00) on shares of Juniper Networks in a research report on Wednesday, October 25th. UBS AG dropped their price objective on shares of Juniper Networks from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 25th. Finally, Zacks Investment Research downgraded shares of Juniper Networks from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $29.61.
Shares of Juniper Networks, Inc. (NYSE JNPR) opened at $24.55 on Friday. The company has a current ratio of 2.72, a quick ratio of 2.48 and a debt-to-equity ratio of 0.41. The firm has a market cap of $9,380.46, a P/E ratio of 13.49, a P/E/G ratio of 1.95 and a beta of 1.05.
Juniper Networks (NYSE:JNPR) last posted its quarterly earnings results on Tuesday, October 24th. The network equipment provider reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.03). Juniper Networks had a net margin of 12.77% and a return on equity of 13.80%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned $0.58 EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. analysts expect that Juniper Networks, Inc. will post 1.7 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, November 30th. Juniper Networks’s payout ratio is 23.26%.
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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