Connor Clark & Lunn Investment Management Ltd. Has $27.89 Million Stock Holdings in Hewlett Packard Enterprise Company (NYSE:HPE)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Hewlett Packard Enterprise by 12.6%, owning approximately 1.8 million shares worth $27.89 million after the sale.
• Several hedge funds have increased their holdings in Hewlett Packard Enterprise, with an overall institutional ownership of 80.78% of the company's stock.
• Hewlett Packard Enterprise reported a quarterly earnings per share of $0.38, exceeding analysts' expectations, and announced a $0.13 dividend per share, yielding 2.5% annually.

Connor Clark & Lunn Investment Management Ltd. cut its position in Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,807,587 shares of the technology company's stock after selling 260,757 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of Hewlett Packard Enterprise worth $27,891,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Cerity Partners LLC raised its holdings in shares of Hewlett Packard Enterprise by 4.7% during the fourth quarter. Cerity Partners LLC now owns 316,540 shares of the technology company's stock worth $6,711,000 after acquiring an additional 14,338 shares during the period. Advisory Services Network LLC raised its holdings in shares of Hewlett Packard Enterprise by 34.9% during the fourth quarter. Advisory Services Network LLC now owns 25,688 shares of the technology company's stock worth $548,000 after acquiring an additional 6,651 shares during the period. Bessemer Group Inc. raised its holdings in shares of Hewlett Packard Enterprise by 1.0% during the fourth quarter. Bessemer Group Inc. now owns 204,363 shares of the technology company's stock worth $4,363,000 after acquiring an additional 2,059 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of Hewlett Packard Enterprise by 1.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 749,410 shares of the technology company's stock worth $16,000,000 after acquiring an additional 8,974 shares during the period. Finally, Jaffetilchin Investment Partners LLC raised its holdings in shares of Hewlett Packard Enterprise by 333.2% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 30,462 shares of the technology company's stock worth $650,000 after acquiring an additional 23,430 shares during the period. 80.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on HPE. Wolfe Research began coverage on shares of Hewlett Packard Enterprise in a research note on Tuesday, July 8th. They issued a "peer perform" rating on the stock. JPMorgan Chase & Co. began coverage on shares of Hewlett Packard Enterprise in a research note on Thursday, July 17th. They issued an "overweight" rating and a $30.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Hewlett Packard Enterprise from $21.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Loop Capital lifted their price target 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, June 9th. Finally, Bank of America lifted their price target on shares of Hewlett Packard Enterprise from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.87.

Insider Buying and Selling

In related news, EVP Phil Mottram sold 30,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $20.54, for a total transaction of $616,200.00. Following the completion of the transaction, the executive vice president directly owned 42,427 shares in the company, valued at $871,450.58. This represents a 41.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jeremy Cox sold 68,590 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $18.44, for a total transaction of $1,264,799.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,590 shares of company stock valued at $2,436,000. 0.36% of the stock is owned by corporate insiders.

Hewlett Packard Enterprise Stock Performance

Shares of Hewlett Packard Enterprise stock opened at $20.84 on Friday. The company has a 50 day moving average of $19.61 and a 200-day moving average of $18.32. Hewlett Packard Enterprise Company has a 1-year low of $11.97 and a 1-year high of $24.66. The company has a current ratio of 1.29, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The company has a market cap of $27.35 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 3.00 and a beta of 1.37.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.05. Hewlett Packard Enterprise had a net margin of 4.60% and a return on equity of 9.59%. The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.51 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. The firm's quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts forecast that Hewlett Packard Enterprise Company will post 1.85 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Wednesday, June 18th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, June 18th. Hewlett Packard Enterprise's dividend payout ratio is currently 52.53%.

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.

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