NuWave Investment Management LLC Invests $120,000 in Hewlett Packard Enterprise (NYSE:HPE)



NuWave Investment Management LLC acquired a new stake in Hewlett Packard Enterprise (NYSE:HPE – Get Rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,174 shares of the technology company’s stock, valued at approximately $120,000.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Hewlett Packard Enterprise by 3.0% in the 4th quarter. State Street Corp now owns 68,369,444 shares of the technology company’s stock valued at $1,086,148,000 after purchasing an additional 2,015,880 shares during the last quarter. Victory Capital Management Inc. its raised holdings in Hewlett Packard Enterprise by 11.1% in the 4th quarter. Victory Capital Management Inc. Now owns 17,464,583 shares of the technology company’s stock valued at $275,416,000 after buying an additional 1,750,972 shares during the period. Allianz Asset Management GmbH boosted its stake in Hewlett Packard Enterprise by 25.9% during the fourth quarter. Allianz Asset Management GmbH now owns 6,709,480 shares of the technology company’s stock worth $105,808,000 after buying an additional 1,379,985 shares during the period. KBC Group NV increased its position in shares of Hewlett Packard Enterprise by 34.1% during the fourth quarter. KBC Group NV now owns 4,544,801 shares of the technology company’s stock valued at $71,672,000 after acquiring an additional 1,156,297 shares during the last quarter. Finally, LPL Financial LLC raised its stake in shares of Hewlett Packard Enterprise by 836.8% in the 4th quarter. LPL Financial LLC now owns 1,240,811 shares of the technology company’s stock valued at $19,568,000 after acquiring an additional 1,108,364 shares during the period. Hedge funds and other institutional investors own 82.70% of the company’s stock.

Hewlett Packard Enterprise stock opened at $13.62 on Friday. The stock has a market cap of $17.70 billion, a PE ratio of 4.90, a P/E/G ratio of 3.11 and a beta of 1.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.64. The stock’s fifty day moving average is $15.16 and its two-hundred day moving average is $15.98. Hewlett Packard Enterprise has a 1-year low of $12.99 and a 1-year high of $17.76.

Hewlett Packard Enterprise (NYSE:HPE – Get Rating) last issued its earnings results on Wednesday, June 1st. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.06). The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.80 billion. Hewlett Packard Enterprise had a return on equity of 19.01% and a net margin of 13.28%. Hewlett Packard Enterprise’s revenue was up .0% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. On average, research analysts expect that Hewlett Packard Enterprise will post 1.2 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Monday, June 13th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, June 10th. Hewlett Packard Enterprise’s payout ratio is 17.27%.

A number of analysts have issued reports on HPE shares. Sanford C. Bernstein raised Hewlett Packard Enterprise from a “market performer” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Wednesday, March 2nd. Barclays decreased their target price on Hewlett Packard Enterprise from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, June 2nd. StockNews.com downgraded Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a research report on Monday, June 6th. Morgan Stanley lowered shares of Hewlett Packard Enterprise from an “equal weight” rating to an “underweight” rating and lowered their objective price for the company from $17.00 to $15.00 in a research note on Tuesday, April 12th. They noted that the move was a valuation call. Finally, KGI Securities assumed coverage on shares of Hewlett Packard Enterprise in a research note on Tuesday, April 19th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.50.

In other Hewlett Packard Enterprise news, EVP Alan Richard May sold 94,705 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $15.08, for a total value of $1,428,151.40. Following the completion of the sale, the executive vice president now owns 310,500 shares in the company, valued at $4,682,340. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thomas E. Black, Jr. sold 28,347 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $15.26, for a total transaction of $432,575.22. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

About Hewlett Packard Enterprise (Get Rating)

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. The company offers general purpose servers for multi-workload computing and workload-optimized servers; HPE ProLiant rack and tower servers; HPE BladeSystem and HPE Synergy; and solutions for secondary workloads and traditional tape, storage networking, and disk products, such as HPE Modular Storage Arrays and HPE XP.

Further Reading

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Institutional Ownership by Quarter for Hewlett Packard Enterprise (NYSE:HPE)



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