Letko Brosseau & Associates Inc. Decreases Stake in Hewlett Packard Enterprise Co (NYSE:HPE)

Letko Brosseau & Associates Inc. lowered its position in Hewlett Packard Enterprise Co (NYSE:HPE) by 9.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,539,427 shares of the technology company’s stock after selling 259,085 shares during the quarter. Letko Brosseau & Associates Inc. owned approximately 0.19% of Hewlett Packard Enterprise worth $37,964,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HPE. Boston Partners lifted its stake in Hewlett Packard Enterprise by 197.6% in the first quarter. Boston Partners now owns 28,872,991 shares of the technology company’s stock worth $445,510,000 after acquiring an additional 19,172,670 shares during the last quarter. Banco Santander S.A. purchased a new position in Hewlett Packard Enterprise in the first quarter worth approximately $19,618,000. State of New Jersey Common Pension Fund D raised its holdings in Hewlett Packard Enterprise by 275.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 1,500,000 shares of the technology company’s stock worth $22,425,000 after purchasing an additional 1,100,000 shares in the last quarter. Todd Asset Management LLC acquired a new stake in Hewlett Packard Enterprise during the first quarter worth approximately $15,576,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Hewlett Packard Enterprise by 53.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,789,137 shares of the technology company’s stock worth $41,694,000 after purchasing an additional 970,938 shares in the last quarter. Institutional investors own 81.42% of the company’s stock.

Shares of Hewlett Packard Enterprise stock traded down $0.29 during trading on Thursday, reaching $12.57. The company’s stock had a trading volume of 6,576,232 shares, compared to its average volume of 9,187,927. The stock has a 50-day moving average price of $14.43. The company has a market capitalization of $17.50 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 1.26 and a beta of 1.58. Hewlett Packard Enterprise Co has a fifty-two week low of $12.09 and a fifty-two week high of $17.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.80 and a current ratio of 0.93.

Hewlett Packard Enterprise (NYSE:HPE) last announced its earnings results on Thursday, May 23rd. The technology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $7.15 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Hewlett Packard Enterprise had a net margin of 0.95% and a return on equity of 12.32%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. As a group, sell-side analysts anticipate that Hewlett Packard Enterprise Co will post 1.67 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a $0.112 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 3.57%. Hewlett Packard Enterprise’s payout ratio is 28.85%.

A number of analysts have weighed in on the stock. Nomura cut their price objective on shares of Hewlett Packard Enterprise from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Barclays assumed coverage on shares of Hewlett Packard Enterprise in a report on Wednesday, August 7th. They set an “equal weight” rating and a $14.00 price objective on the stock. Longbow Research assumed coverage on shares of Hewlett Packard Enterprise in a report on Friday, June 21st. They set a “neutral” rating and a $15.00 price objective on the stock. Zacks Investment Research raised shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, May 22nd. Finally, Maxim Group set a $17.00 price objective on shares of Hewlett Packard Enterprise and gave the stock a “hold” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.33.

In other Hewlett Packard Enterprise news, insider Philip Davis sold 10,088 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $14.96, for a total value of $150,916.48. Following the transaction, the insider now directly owns 15,423 shares of the company’s stock, valued at approximately $230,728.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Irv Rothman sold 84,629 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $13.85, for a total transaction of $1,172,111.65. The disclosure for this sale can be found here. Insiders sold a total of 111,129 shares of company stock worth $1,558,212 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

About Hewlett Packard Enterprise

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 for multi-workload computing; mission-critical servers; converged storage solutions, including all-flash arrays and hybrid storage solutions; and traditional storage solutions comprising tape, storage networking, and disk products, such as HPE MSA and HPE XP.

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

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