Letko Brosseau & Associates Inc. increased its holdings in shares of Hewlett Packard Enterprise (NYSE:HPE) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,275,159 shares of the technology company’s stock after buying an additional 17,500 shares during the quarter. Letko Brosseau & Associates Inc. owned 0.21% of Hewlett Packard Enterprise worth $47,031,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Newman Dignan & Sheerar Inc. bought a new position in Hewlett Packard Enterprise in the fourth quarter valued at about $207,000. BB&T Securities LLC bought a new position in Hewlett Packard Enterprise in the third quarter valued at about $156,000. Daiwa SB Investments Ltd. bought a new position in Hewlett Packard Enterprise in the fourth quarter valued at about $156,000. Clear Harbor Asset Management LLC bought a new position in Hewlett Packard Enterprise in the fourth quarter valued at about $158,000. Finally, Empirical Financial Services LLC bought a new position in Hewlett Packard Enterprise in the fourth quarter valued at about $159,000. Institutional investors and hedge funds own 82.97% of the company’s stock.
HPE stock traded down $0.08 during midday trading on Wednesday, reaching $18.70. The company had a trading volume of 323,109 shares, compared to its average volume of 12,755,955. Hewlett Packard Enterprise has a fifty-two week low of $12.69 and a fifty-two week high of $19.48. The firm has a market capitalization of $29,302.90, a PE ratio of 19.98, a P/E/G ratio of 1.57 and a beta of 1.82. The company has a quick ratio of 0.93, a current ratio of 1.06 and a debt-to-equity ratio of 0.42.
Hewlett Packard Enterprise (NYSE:HPE) last released its earnings results on Thursday, February 22nd. The technology company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.22 by $0.12. Hewlett Packard Enterprise had a return on equity of 7.40% and a net margin of 4.52%. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. sell-side analysts predict that Hewlett Packard Enterprise will post 1.4 earnings per share for the current year.
Hewlett Packard Enterprise announced that its Board of Directors has approved a share buyback plan on Thursday, February 22nd that permits the company to repurchase $5.50 billion in shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 14th will be paid a $0.075 dividend. The ex-dividend date is Tuesday, March 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.60%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 31.91%.
In other Hewlett Packard Enterprise news, insider Philip Davis sold 16,405 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $18.51, for a total value of $303,656.55. Following the completion of the sale, the insider now owns 5,665 shares of the company’s stock, valued at $104,859.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret C. Whitman sold 674,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $19.14, for a total value of $12,900,360.00. Following the completion of the sale, the director now directly owns 2,167,693 shares of the company’s stock, valued at approximately $41,489,644.02. The disclosure for this sale can be found here. Insiders sold 2,760,834 shares of company stock valued at $49,109,532 in the last three months. Insiders own 1.18% of the company’s stock.
Several equities analysts have commented on the company. Zacks Investment Research downgraded Hewlett Packard Enterprise from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Sanford C. Bernstein reiterated a “buy” rating and issued a $18.00 target price on shares of Hewlett Packard Enterprise in a research report on Wednesday, November 22nd. Morgan Stanley reiterated a “hold” rating and issued a $14.00 target price on shares of Hewlett Packard Enterprise in a research report on Wednesday, November 22nd. OTR Global downgraded Hewlett Packard Enterprise to a “positive” rating in a research report on Tuesday, February 13th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $15.00 target price on shares of Hewlett Packard Enterprise in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $17.46.
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Hewlett Packard Enterprise Profile
Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).
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