World Asset Management Inc Lowers Position in Hewlett Packard Enterprise Co (HPE)

World Asset Management Inc trimmed its position in Hewlett Packard Enterprise Co (NYSE:HPE) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,297 shares of the technology company’s stock after selling 3,773 shares during the quarter. World Asset Management Inc’s holdings in Hewlett Packard Enterprise were worth $1,620,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. LS Investment Advisors LLC increased its position in Hewlett Packard Enterprise by 4.4% in the second quarter. LS Investment Advisors LLC now owns 83,966 shares of the technology company’s stock worth $1,227,000 after purchasing an additional 3,569 shares during the period. LPL Financial LLC increased its position in Hewlett Packard Enterprise by 5.0% in the first quarter. LPL Financial LLC now owns 83,694 shares of the technology company’s stock worth $1,468,000 after purchasing an additional 3,959 shares during the period. Xact Kapitalforvaltning AB increased its position in Hewlett Packard Enterprise by 1.3% in the second quarter. Xact Kapitalforvaltning AB now owns 304,835 shares of the technology company’s stock worth $4,454,000 after purchasing an additional 3,967 shares during the period. Dupont Capital Management Corp increased its position in Hewlett Packard Enterprise by 44.0% in the second quarter. Dupont Capital Management Corp now owns 14,469 shares of the technology company’s stock worth $211,000 after purchasing an additional 4,419 shares during the period. Finally, Brown Advisory Inc. increased its position in Hewlett Packard Enterprise by 32.8% in the second quarter. Brown Advisory Inc. now owns 18,217 shares of the technology company’s stock worth $266,000 after purchasing an additional 4,502 shares during the period. Hedge funds and other institutional investors own 82.77% of the company’s stock.

Shares of HPE opened at $15.42 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.00 and a quick ratio of 0.84. Hewlett Packard Enterprise Co has a 52-week low of $12.81 and a 52-week high of $19.48. The company has a market capitalization of $24.00 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 1.09 and a beta of 1.77.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings data on Tuesday, August 28th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.07. Hewlett Packard Enterprise had a return on equity of 9.38% and a net margin of 10.43%. The business had revenue of $7.76 billion during the quarter, compared to analyst estimates of $7.67 billion. During the same period in the previous year, the firm earned $0.30 EPS. Hewlett Packard Enterprise’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts forecast that Hewlett Packard Enterprise Co will post 1.54 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 12th will be given a $0.1125 dividend. The ex-dividend date of this dividend is Tuesday, December 11th. This represents a $0.45 annualized dividend and a dividend yield of 2.92%. Hewlett Packard Enterprise’s dividend payout ratio is presently 46.88%.

In related news, insider Antonio F. Neri sold 36,556 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $16.50, for a total value of $603,174.00. Following the completion of the transaction, the insider now directly owns 170,721 shares in the company, valued at approximately $2,816,896.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy C. Stonesifer sold 479,142 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $16.57, for a total value of $7,939,382.94. Following the completion of the transaction, the chief financial officer now owns 637,868 shares of the company’s stock, valued at $10,569,472.76. The disclosure for this sale can be found here. Insiders sold a total of 685,704 shares of company stock valued at $11,342,061 over the last quarter. 1.18% of the stock is owned by insiders.

Several research firms have recently issued reports on HPE. Zacks Investment Research upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Monday, July 16th. Deutsche Bank boosted their target price on Hewlett Packard Enterprise from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Oppenheimer set a $20.00 target price on Hewlett Packard Enterprise and gave the stock a “buy” rating in a research report on Tuesday, August 28th. Maxim Group restated a “hold” rating and set a $18.00 target price on shares of Hewlett Packard Enterprise in a research report on Wednesday, August 29th. Finally, UBS Group began coverage on Hewlett Packard Enterprise in a research report on Wednesday, September 26th. They set a “hold” rating and a $17.00 target price for the company. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $17.83.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company operates as a technology company. The company operates through four segments: Hybrid IT, Intelligent Edge, Financial Services, and Corporate Investments. The Hybrid IT segment provides industry standard servers, as well as mission-critical servers to address the full array of its customers' computing needs; converged storage solutions, including all-flash arrays and hybrid storage solutions; and traditional storage solutions comprising tape, storage networking, and legacy external disk products.

Further Reading: Investing in Growth Stocks

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

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