Bank of Nova Scotia Takes Position in Hewlett Packard Enterprise Company $HPE

Key Points

• Bank of Nova Scotia purchased 172,197 HPE shares worth approximately $7.8 million during the second quarter, while institutional investors collectively own 80.78% of the company.
• Analyst sentiment is broadly positive: HPE has a “Moderate Buy” consensus rating, with 11 Buy ratings and six Holds; its consensus price target is $69.80.
• HPE exceeded quarterly expectations, reporting $0.79 in adjusted EPS versus a $0.54 estimate and $10.68 billion in revenue, up 40% year over year. The company also announced a quarterly dividend of $0.1425 per share.

Bank of Nova Scotia purchased a new position in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 172,197 shares of the technology company's stock, valued at approximately $7,768,000.

A number of other hedge funds also recently made changes to their positions in HPE. Empowered Funds LLC raised its holdings in Hewlett Packard Enterprise by 317.3% in the first quarter. Empowered Funds LLC now owns 149,810 shares of the technology company's stock valued at $2,312,000 after acquiring an additional 113,906 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Hewlett Packard Enterprise by 44.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,456 shares of the technology company's stock worth $69,000 after acquiring an additional 1,377 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Hewlett Packard Enterprise by 4.4% in the 2nd quarter. Brown Advisory Inc. now owns 23,593 shares of the technology company's stock worth $482,000 after purchasing an additional 996 shares during the last quarter. Jump Financial LLC increased its position in shares of Hewlett Packard Enterprise by 25.8% in the 2nd quarter. Jump Financial LLC now owns 15,662 shares of the technology company's stock worth $320,000 after purchasing an additional 3,215 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Hewlett Packard Enterprise in the 2nd quarter valued at about $207,000. Hedge funds and other institutional investors own 80.78% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays upped their price objective on Hewlett Packard Enterprise from $28.00 to $67.00 and gave the company an "overweight" rating in a research note on Tuesday, June 2nd. Bank of America boosted their price target on Hewlett Packard Enterprise from $38.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. The Goldman Sachs Group upped their price target on Hewlett Packard Enterprise from $32.00 to $79.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their target price on shares of Hewlett Packard Enterprise from $37.00 to $68.00 and gave the stock an "overweight" rating in a report on Tuesday, June 2nd. Finally, Loop Capital upgraded shares of Hewlett Packard Enterprise from a "hold" rating to a "buy" rating and raised their price target for the stock from $23.00 to $75.00 in a research report on Tuesday, June 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Hewlett Packard Enterprise presently has an average rating of "Moderate Buy" and a consensus price target of $69.80.

Insider Activity

In other news, SVP Kirt P. Karros sold 18,785 shares of Hewlett Packard Enterprise stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $48.50, for a total transaction of $911,072.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.44% of the company's stock.

Hewlett Packard Enterprise Stock Down 1.9%

HPE opened at $52.44 on Tuesday. The stock's 50 day moving average price is $48.98 and its 200 day moving average price is $36.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.09 and a quick ratio of 0.75. The stock has a market cap of $69.44 billion, a P/E ratio of 49.01, a P/E/G ratio of 0.58 and a beta of 1.42. Hewlett Packard Enterprise Company has a 12 month low of $19.84 and a 12 month high of $64.25.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last announced its quarterly earnings results on Monday, June 1st. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.25. Hewlett Packard Enterprise had a return on equity of 11.91% and a net margin of 3.94%.The company had revenue of $10.68 billion during the quarter, compared to analyst estimates of $9.78 billion. During the same quarter in the previous year, the firm posted ($0.82) EPS. The firm's quarterly revenue was up 40.0% on a year-over-year basis. Hewlett Packard Enterprise has set its FY 2026 guidance at 3.350-3.450 EPS and its Q3 2026 guidance at 0.880-0.930 EPS. As a group, research analysts predict that Hewlett Packard Enterprise Company will post 2.9 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 16th were paid a dividend of $0.1425 per share. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 16th. Hewlett Packard Enterprise's dividend payout ratio (DPR) is currently 53.27%.

Hewlett Packard Enterprise Profile

Hewlett Packard Enterprise (HPE) is an enterprise technology company that designs, develops and sells IT infrastructure, software and services for business and government customers. Its core offerings span servers, storage, networking, and related software, together with consulting, integration and support services aimed at modernizing and managing enterprise IT environments. HPE's product portfolio includes systems for traditional data centers as well as solutions for high-performance computing, edge computing and telecommunications infrastructure.

A major focus for HPE is hybrid cloud and consumption-based IT.

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