Concentric Capital Strategies LP Makes New Investment in Hewlett Packard Enterprise (NYSE:HPE)

Concentric Capital Strategies LP purchased a new stake in Hewlett Packard Enterprise (NYSE:HPE) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 166,445 shares of the technology company’s stock, valued at approximately $3,405,000.

Several other institutional investors have also recently made changes to their positions in the company. Capital Investment Counsel Inc grew its position in Hewlett Packard Enterprise by 1.2% during the second quarter. Capital Investment Counsel Inc now owns 41,269 shares of the technology company’s stock worth $874,000 after buying an additional 500 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Hewlett Packard Enterprise by 4.8% in the second quarter. First Horizon Advisors Inc. now owns 10,933 shares of the technology company’s stock worth $231,000 after purchasing an additional 501 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Hewlett Packard Enterprise by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 111,617 shares of the technology company’s stock valued at $2,363,000 after purchasing an additional 536 shares in the last quarter. Avior Wealth Management LLC lifted its position in Hewlett Packard Enterprise by 6.4% during the third quarter. Avior Wealth Management LLC now owns 9,665 shares of the technology company’s stock valued at $198,000 after purchasing an additional 579 shares during the last quarter. Finally, Bailard Inc. grew its stake in Hewlett Packard Enterprise by 1.7% in the 2nd quarter. Bailard Inc. now owns 35,349 shares of the technology company’s stock worth $748,000 after buying an additional 580 shares in the last quarter. Institutional investors own 80.78% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Susquehanna reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Hewlett Packard Enterprise in a report on Friday, October 11th. Loop Capital upped their price objective on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft began coverage on Hewlett Packard Enterprise in a research report on Wednesday, October 9th. They set a “hold” rating and a $22.00 price objective on the stock. Citigroup upped their target price on Hewlett Packard Enterprise from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Raymond James upgraded shares of Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $23.00 to $29.00 in a report on Monday, November 18th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Hewlett Packard Enterprise has an average rating of “Hold” and a consensus target price of $22.21.

Hewlett Packard Enterprise Price Performance

HPE stock opened at $21.25 on Tuesday. The stock has a market capitalization of $27.60 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 3.32 and a beta of 1.21. The firm’s 50-day moving average price is $20.72 and its two-hundred day moving average price is $19.80. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. Hewlett Packard Enterprise has a 12-month low of $14.47 and a 12-month high of $22.82.

Hewlett Packard Enterprise (NYSE:HPE) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The company had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. Hewlett Packard Enterprise’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. As a group, equities analysts predict that Hewlett Packard Enterprise will post 1.66 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, September 19th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, September 19th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.45%. Hewlett Packard Enterprise’s dividend payout ratio is presently 37.14%.

Insider Buying and Selling

In related news, SVP Jeremy Cox sold 7,770 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $21.00, for a total transaction of $163,170.00. Following the transaction, the senior vice president now owns 7,771 shares in the company, valued at $163,191. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Antonio F. Neri sold 83,334 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $19.72, for a total transaction of $1,643,346.48. Following the completion of the sale, the chief executive officer now owns 1,758,641 shares of the company’s stock, valued at $34,680,400.52. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 426,012 shares of company stock valued at $8,599,617 over the last quarter. 0.40% of the stock is owned by company insiders.

Hewlett Packard Enterprise Company Profile

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.