Empirical Finance LLC Lowers Stake in Juniper Networks, Inc. (JNPR)
Empirical Finance LLC cut its position in shares of Juniper Networks, Inc. (NYSE:JNPR) by 45.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,697 shares of the network equipment provider’s stock after selling 42,024 shares during the period. Empirical Finance LLC’s holdings in Juniper Networks were worth $1,489,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JNPR. Natixis bought a new stake in shares of Juniper Networks in the 1st quarter worth about $636,000. LPL Financial LLC increased its holdings in shares of Juniper Networks by 188.3% in the 1st quarter. LPL Financial LLC now owns 52,463 shares of the network equipment provider’s stock worth $1,276,000 after buying an additional 34,265 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Juniper Networks in the 1st quarter worth about $479,000. Cubist Systematic Strategies LLC increased its holdings in shares of Juniper Networks by 612.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 54,137 shares of the network equipment provider’s stock worth $1,317,000 after buying an additional 46,539 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in shares of Juniper Networks by 20.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,307,095 shares of the network equipment provider’s stock worth $31,801,000 after buying an additional 219,621 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.
NYSE:JNPR traded down $0.27 during mid-day trading on Thursday, hitting $28.60. 235,915 shares of the stock traded hands, compared to its average volume of 4,701,982. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 4.36 and a beta of 0.85. Juniper Networks, Inc. has a 52 week low of $23.61 and a 52 week high of $30.23. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.40.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 25th. Investors of record on Tuesday, September 4th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.72 annualized dividend and a yield of 2.52%. Juniper Networks’s payout ratio is 41.62%.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Juniper Networks from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Wednesday, September 26th. UBS Group assumed coverage on shares of Juniper Networks in a report on Wednesday, September 26th. They issued a “neutral” rating and a $31.00 target price on the stock. TheStreet upgraded shares of Juniper Networks from a “c+” rating to a “b-” rating in a report on Thursday, September 20th. ValuEngine upgraded shares of Juniper Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. Finally, JPMorgan Chase & Co. restated a “sell” rating on shares of Juniper Networks in a report on Tuesday, September 18th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company’s stock. Juniper Networks currently has an average rating of “Hold” and an average price target of $27.52.
In related news, CEO Rami Rahim sold 5,300 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $26.40, for a total transaction of $139,920.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William Stensrud sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $28.20, for a total transaction of $564,000.00. Following the transaction, the director now owns 5,531 shares in the company, valued at $155,974.20. The disclosure for this sale can be found here. Insiders have sold a total of 41,300 shares of company stock worth $1,130,160 over the last quarter. 1.40% of the stock is currently owned by insiders.
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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