Convergence Investment Partners LLC Makes New Investment in Hewlett Packard Enterprise (NYSE:HPE)

Convergence Investment Partners LLC acquired a new stake in shares of Hewlett Packard Enterprise (NYSE:HPE) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 112,678 shares of the technology company’s stock, valued at approximately $2,385,000.

A number of other large investors have also bought and sold shares of HPE. Guidance Capital Inc. lifted its position in Hewlett Packard Enterprise by 4.8% in the 2nd quarter. Guidance Capital Inc. now owns 56,575 shares of the technology company’s stock valued at $1,126,000 after acquiring an additional 2,613 shares in the last quarter. United Asset Strategies Inc. bought a new stake in shares of Hewlett Packard Enterprise in the second quarter valued at about $253,000. Natixis Advisors LLC boosted its position in shares of Hewlett Packard Enterprise by 12.7% during the second quarter. Natixis Advisors LLC now owns 587,278 shares of the technology company’s stock worth $12,433,000 after buying an additional 66,386 shares during the period. Waterfront Wealth Inc. grew its holdings in shares of Hewlett Packard Enterprise by 11.3% during the second quarter. Waterfront Wealth Inc. now owns 102,941 shares of the technology company’s stock worth $2,179,000 after buying an additional 10,443 shares in the last quarter. Finally, Drive Wealth Management LLC bought a new stake in Hewlett Packard Enterprise in the 2nd quarter valued at approximately $234,000. 80.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HPE shares. Evercore ISI raised their price target on shares of Hewlett Packard Enterprise from $18.00 to $22.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 5th. Barclays raised their target price on shares of Hewlett Packard Enterprise from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Sanford C. Bernstein boosted their price target on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 5th. UBS Group raised their price objective on Hewlett Packard Enterprise from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. Finally, Argus upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Friday, June 7th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $21.18.

Hewlett Packard Enterprise Stock Performance

HPE traded up $0.69 during trading hours on Monday, reaching $19.37. The company’s stock had a trading volume of 18,330,201 shares, compared to its average volume of 14,934,894. Hewlett Packard Enterprise has a 52 week low of $14.47 and a 52 week high of $22.82. The firm has a market cap of $25.17 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 2.80 and a beta of 1.20. The company’s 50-day moving average is $19.63 and its 200-day moving average is $18.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.59 and a current ratio of 0.90.

Hewlett Packard Enterprise (NYSE:HPE) last posted its earnings results on Tuesday, June 4th. The technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.82 billion. Hewlett Packard Enterprise had a return on equity of 8.49% and a net margin of 6.38%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, equities analysts forecast that Hewlett Packard Enterprise will post 1.59 EPS for the current year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, June 19th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, June 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.68%. Hewlett Packard Enterprise’s payout ratio is presently 37.96%.

Insider Activity

In other Hewlett Packard Enterprise news, EVP Neil B. Macdonald sold 36,671 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $20.51, for a total transaction of $752,122.21. Following the transaction, the executive vice president now owns 111,054 shares in the company, valued at approximately $2,277,717.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Gary M. Reiner sold 50,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $19.51, for a total transaction of $975,500.00. Following the completion of the transaction, the director now owns 150,948 shares of the company’s stock, valued at approximately $2,944,995.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Neil B. Macdonald sold 36,671 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $20.51, for a total transaction of $752,122.21. Following the completion of the transaction, the executive vice president now directly owns 111,054 shares of the company’s stock, valued at approximately $2,277,717.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,141 shares of company stock worth $2,850,108. Corporate insiders own 0.40% of the company’s stock.

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.