Hewlett Packard Enterprise (NYSE:HPE) Position Trimmed by Intech Investment Management LLC

Intech Investment Management LLC trimmed its stake in Hewlett Packard Enterprise (NYSE:HPE) by 72.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 472,787 shares of the technology company’s stock after selling 1,264,817 shares during the quarter. Intech Investment Management LLC’s holdings in Hewlett Packard Enterprise were worth $10,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in HPE. Vanguard Group Inc. lifted its position in Hewlett Packard Enterprise by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 161,853,093 shares of the technology company’s stock worth $2,869,655,000 after buying an additional 5,777,901 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Hewlett Packard Enterprise by 336.7% during the second quarter. Panagora Asset Management Inc. now owns 4,269,603 shares of the technology company’s stock worth $90,387,000 after acquiring an additional 3,291,880 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in Hewlett Packard Enterprise during the fourth quarter valued at $51,384,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Hewlett Packard Enterprise in the first quarter valued at about $51,938,000. Finally, Norges Bank acquired a new position in Hewlett Packard Enterprise in the 4th quarter worth about $48,291,000. 80.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HPE has been the subject of several research reports. StockNews.com upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Susquehanna reiterated a “neutral” rating and issued a $20.00 target price on shares of Hewlett Packard Enterprise in a research note on Friday, September 6th. Argus upgraded shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Friday, June 7th. Wells Fargo & Company lifted their price objective on shares of Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th. Finally, Bank of America upgraded shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $21.00 to $24.00 in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Hewlett Packard Enterprise presently has an average rating of “Hold” and a consensus target price of $21.08.

Hewlett Packard Enterprise Price Performance

NYSE HPE opened at $18.81 on Friday. The stock has a market capitalization of $24.45 billion, a PE ratio of 13.73, a P/E/G ratio of 1.97 and a beta of 1.19. The stock has a 50-day simple moving average of $18.69 and a 200 day simple moving average of $18.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.94. Hewlett Packard Enterprise has a twelve month low of $14.47 and a twelve month high of $22.82.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. The company had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.67 billion. During the same period in the prior year, the business earned $0.35 earnings per share. Hewlett Packard Enterprise’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts anticipate that Hewlett Packard Enterprise will post 1.66 EPS for the current year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, September 19th. Hewlett Packard Enterprise’s dividend payout ratio is currently 37.96%.

Insider Activity at Hewlett Packard Enterprise

In related news, EVP Neil B. Macdonald sold 29,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $17.00, for a total transaction of $493,000.00. Following the transaction, the executive vice president now directly owns 82,061 shares in the company, valued at $1,395,037. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is owned by corporate insiders.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.