Juniper Networks, Inc. (JNPR) Stake Increased by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan boosted its stake in Juniper Networks, Inc. (NYSE:JNPR) by 31.4% during the second quarter, Holdings Channel reports. The institutional investor owned 33,030 shares of the network equipment provider’s stock after buying an additional 7,900 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Juniper Networks were worth $921,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acrospire Investment Management LLC increased its position in shares of Juniper Networks by 837.8% in the first quarter. Acrospire Investment Management LLC now owns 4,689 shares of the network equipment provider’s stock valued at $130,000 after buying an additional 4,189 shares in the last quarter. Creative Planning increased its position in shares of Juniper Networks by 0.4% in the second 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. Menta Capital LLC purchased a new position in shares of Juniper Networks during the first quarter valued at $205,000. Advisor Partners LLC purchased a new position in shares of Juniper Networks during the first quarter valued at $210,000. Finally, Cipher Capital LP purchased a new position in shares of Juniper Networks during the first quarter valued at $214,000. 91.15% of the stock is owned by institutional investors.
Juniper Networks, Inc. (NYSE JNPR) opened at 27.41 on Friday. The firm has a 50-day moving average of $28.45 and a 200-day moving average of $28.54. Juniper Networks, Inc. has a 52 week low of $22.40 and a 52 week high of $30.96. The company has a market capitalization of $10.42 billion, a P/E ratio of 16.40 and a beta of 1.07.
Juniper Networks (NYSE:JNPR) last released its quarterly earnings results on Tuesday, July 25th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. Juniper Networks had a net margin of 12.66% and a return on equity of 14.13%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. Analysts anticipate that Juniper Networks, Inc. will post $2.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Wednesday, August 30th. Juniper Networks’s dividend payout ratio (DPR) is 23.39%.
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JNPR has been the topic of several research analyst reports. TheStreet cut shares of Juniper Networks from a “b” rating to a “c+” rating in a research note on Thursday, June 29th. Zacks Investment Research cut shares of Juniper Networks from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. UBS AG reiterated a “neutral” rating and issued a $30.00 price target (up previously from $28.00) on shares of Juniper Networks in a research note on Wednesday, July 26th. Pacific Crest initiated coverage on shares of Juniper Networks in a research note on Monday, June 5th. They issued a “sector weight” rating and a $31.00 price target on the stock. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $30.00 price target (up previously from $27.00) on shares of Juniper Networks in a research note on Saturday, April 29th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Juniper Networks presently has a consensus rating of “Hold” and a consensus target price of $30.89.
In other news, EVP Vincent Molinaro sold 5,031 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $30.00, for a total value of $150,930.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Terrance F. Spidell sold 3,313 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $27.69, for a total transaction of $91,736.97. The disclosure for this sale can be found here. Insiders sold a total of 95,844 shares of company stock worth $2,904,344 over the last three months. Insiders own 3.40% of the company’s stock.
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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