Catalyst Capital Advisors LLC Takes Position in Hewlett Packard Enterprise (NYSE:HPE)

07 Nov 2024, 11:24 by Tristan Rich · The Markets Daily

Catalyst Capital Advisors LLC purchased a new stake in shares of Hewlett Packard Enterprise (NYSE:HPE – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,326 shares of the technology company’s stock, valued at approximately $48,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HPE. Janney Montgomery Scott LLC raised its holdings in shares of Hewlett Packard Enterprise by 27.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 165,242 shares of the technology company’s stock valued at $2,930,000 after purchasing an additional 35,887 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its stake in Hewlett Packard Enterprise by 0.4% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 721,862 shares of the technology company’s stock valued at $12,799,000 after buying an additional 3,018 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in Hewlett Packard Enterprise by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 268,738 shares of the technology company’s stock valued at $4,765,000 after buying an additional 3,850 shares during the last quarter. Empirical Finance LLC grew its stake in Hewlett Packard Enterprise by 3.3% in the 1st quarter. Empirical Finance LLC now owns 46,921 shares of the technology company’s stock valued at $832,000 after buying an additional 1,516 shares during the last quarter. Finally, AIA Group Ltd acquired a new position in Hewlett Packard Enterprise in the 1st quarter valued at $1,185,000. Institutional investors own 80.78% of the company’s stock.

Insider Activity at Hewlett Packard Enterprise

In related news, EVP Neil B. Macdonald sold 29,000 shares of Hewlett Packard Enterprise stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,061 shares of the company’s stock, valued at $1,395,037. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Neil B. Macdonald sold 29,000 shares of Hewlett Packard Enterprise stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,061 shares of the company’s stock, valued at $1,395,037. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Antonio F. Neri sold 83,334 shares of Hewlett Packard Enterprise stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $19.72, for a total transaction of $1,643,346.48. Following the transaction, the chief executive officer now directly owns 1,758,641 shares of the company’s stock, valued at $34,680,400.52. This represents a 0.00 % 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 in the last ninety days. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Hewlett Packard Enterprise in a research note on Monday, September 23rd. They issued a “neutral” rating and a $20.00 target price on the stock. Loop Capital raised their target price on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Monday, September 9th. Barclays upgraded shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $24.00 in a research note on Wednesday, September 25th. UBS Group raised their price target on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Finally, Bank of America upgraded shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and raised their price target for the stock from $21.00 to $24.00 in a research report on Tuesday, September 17th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Hewlett Packard Enterprise presently has a consensus rating of “Hold” and a consensus price target of $21.46.

Read Our Latest Stock Report on HPE

Hewlett Packard Enterprise Price Performance

Shares of Hewlett Packard Enterprise stock opened at $21.33 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.94. The firm’s 50-day simple moving average is $19.45 and its 200-day simple moving average is $19.22. Hewlett Packard Enterprise has a twelve month low of $14.47 and a twelve month high of $22.82. The firm has a market cap of $27.70 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 3.45 and a beta of 1.19.

Hewlett Packard Enterprise (NYSE:HPE – Get Free Report) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The business had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.67 billion. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. As a group, research analysts expect that Hewlett Packard Enterprise will post 1.66 EPS for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The company also recently declared 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. This represents a $0.52 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, September 19th. Hewlett Packard Enterprise’s dividend payout ratio is currently 37.14%.

Hewlett Packard Enterprise Profile

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