Victory Capital Management Inc. Sells 11,479 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Victory Capital Management Inc. lessened its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 18.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,473 shares of the utilities provider’s stock after selling 11,479 shares during the quarter. Victory Capital Management Inc.’s holdings in Hawaiian Electric Industries were worth $498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Abich Financial Wealth Management LLC grew its holdings in Hawaiian Electric Industries by 54.4% in the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 1,137 shares during the period. IMS Capital Management grew its holdings in Hawaiian Electric Industries by 2.5% in the second quarter. IMS Capital Management now owns 51,957 shares of the utilities provider’s stock worth $469,000 after purchasing an additional 1,257 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Hawaiian Electric Industries by 17.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 1,766 shares during the period. Signaturefd LLC grew its holdings in Hawaiian Electric Industries by 30.8% in the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 1,986 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Hawaiian Electric Industries by 9.5% in the second quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 2,482 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 1.2 %

NYSE:HE opened at $10.41 on Friday. The company’s 50 day moving average price is $10.12 and its 200-day moving average price is $11.16. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $983.38 million during the quarter. During the same quarter in the prior year, the company earned $0.37 EPS. The company’s revenue was up 9.0% compared to the same quarter last year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HE shares. Wells Fargo & Company cut their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Evercore ISI cut their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. Finally, StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.