Renaissance Technologies LLC Sells 892,000 Shares of Juniper Networks, Inc. (NYSE:JNPR)
Renaissance Technologies LLC decreased its stake in shares of Juniper Networks, Inc. (NYSE:JNPR) by 31.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,984,491 shares of the network equipment provider’s stock after selling 892,000 shares during the quarter. Renaissance Technologies LLC owned about 0.57% of Juniper Networks worth $52,847,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNPR. Bahl & Gaynor Inc. lifted its position in shares of Juniper Networks by 43.6% in the second quarter. Bahl & Gaynor Inc. now owns 97,616 shares of the network equipment provider’s stock valued at $2,600,000 after buying an additional 29,629 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Juniper Networks by 6.9% during the 2nd quarter. M&T Bank Corp now owns 21,003 shares of the network equipment provider’s stock worth $560,000 after buying an additional 1,364 shares during the last quarter. CKW Financial Group boosted its holdings in shares of Juniper Networks by 20.0% during the 2nd quarter. CKW Financial Group now owns 2,400 shares of the network equipment provider’s stock worth $64,000 after buying an additional 400 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Juniper Networks by 4.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,991,908 shares of the network equipment provider’s stock worth $79,675,000 after buying an additional 118,965 shares during the period. Finally, BBT Capital Management LLC acquired a new position in Juniper Networks in the 2nd quarter valued at about $754,000. 90.89% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on the company. Citigroup cut Juniper Networks from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $28.00 to $24.00 in a report on Monday, July 8th. Rosenblatt Securities upgraded Juniper Networks from a “sell” rating to a “neutral” rating and boosted their price target for the company from $24.00 to $27.00 in a research note on Wednesday, June 12th. Raymond James set a $29.00 price objective on Juniper Networks and gave the company a “buy” rating in a report on Friday, September 6th. Barclays assumed coverage on Juniper Networks in a research report on Wednesday, August 7th. They set an “equal weight” rating and a $27.00 price objective on the stock. Finally, Evercore ISI initiated coverage on Juniper Networks in a report on Wednesday. They set an “inline” rating and a $26.00 target price for the company. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $27.40.
JNPR stock traded down $0.33 during mid-day trading on Wednesday, hitting $24.18. The stock had a trading volume of 43,207 shares, compared to its average volume of 2,955,151. The firm has a fifty day simple moving average of $24.68 and a 200 day simple moving average of $26.20. The firm has a market capitalization of $8.31 billion, a P/E ratio of 17.79, a P/E/G ratio of 3.08 and a beta of 0.98. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.32. Juniper Networks, Inc. has a 52 week low of $22.42 and a 52 week high of $30.80.
Juniper Networks (NYSE:JNPR) last posted its quarterly earnings results on Thursday, July 25th. The network equipment provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.06). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Juniper Networks had a return on equity of 10.00% and a net margin of 11.05%. The business’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 EPS. As a group, equities analysts expect that Juniper Networks, Inc. will post 1.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.14%. Juniper Networks’s dividend payout ratio (DPR) is currently 55.88%.
Juniper Networks Company 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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