Provident Investment Management Inc. Buys Shares of 34,770 Hewlett Packard Enterprise Company $HPE

Key Points

• Provident Investment Management opened a new position in Hewlett Packard Enterprise, buying 34,770 shares worth about $835,000 in the fourth quarter. Other institutional investors also increased or initiated positions, and institutions now own 80.78% of HPE.
• Several analysts remain constructive on HPE, with recent ratings including multiple buy calls and an average Wall Street rating of Moderate Buy. The consensus price target is about $26.71.
• HPE beat earnings expectations in its latest quarter, reporting $0.65 EPS versus the $0.59 estimate, while revenue rose 18.4% year over year. The company also paid a quarterly dividend of $0.1425 per share, yielding about 1.8%.

Provident Investment Management Inc. bought a new position in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 34,770 shares of the technology company's stock, valued at approximately $835,000.

A number of other large investors have also made changes to their positions in HPE. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Hewlett Packard Enterprise by 176.7% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,043 shares of the technology company's stock worth $26,000 after buying an additional 666 shares in the last quarter. Headlands Technologies LLC purchased a new position in Hewlett Packard Enterprise in the second quarter valued at about $26,000. Chilton Capital Management LLC acquired a new stake in shares of Hewlett Packard Enterprise during the 3rd quarter valued at approximately $30,000. Clearstead Trust LLC lifted its position in shares of Hewlett Packard Enterprise by 93.8% during the 3rd quarter. Clearstead Trust LLC now owns 1,291 shares of the technology company's stock valued at $32,000 after acquiring an additional 625 shares during the period. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Hewlett Packard Enterprise during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 80.78% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on HPE. The Goldman Sachs Group began coverage on Hewlett Packard Enterprise in a report on Tuesday, January 13th. They issued a "buy" rating and a $31.00 price target on the stock. Citigroup boosted their target price on Hewlett Packard Enterprise from $26.00 to $27.00 and gave the stock a "buy" rating in a research report on Wednesday, March 11th. Truist Financial started coverage on Hewlett Packard Enterprise in a report on Tuesday, March 31st. They issued a "buy" rating and a $31.00 target price on the stock. Raymond James Financial restated an "outperform" rating and issued a $29.00 price target (down from $30.00) on shares of Hewlett Packard Enterprise in a research report on Monday, April 13th. Finally, Morgan Stanley lifted their price target on Hewlett Packard Enterprise from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.71.

Insider Transactions at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, CEO Antonio F. Neri sold 150,000 shares of Hewlett Packard Enterprise stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $26.50, for a total value of $3,975,000.00. Following the completion of the sale, the chief executive officer owned 1,687,329 shares in the company, valued at $44,714,218.50. The trade was a 8.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neil B. Macdonald sold 24,251 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $27.01, for a total transaction of $655,019.51. Following the transaction, the executive vice president owned 32,243 shares in the company, valued at approximately $870,883.43. The trade was a 42.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 702,402 shares of company stock worth $18,440,171 in the last quarter. 0.44% of the stock is currently owned by corporate insiders.

Hewlett Packard Enterprise Stock Down 1.5%

Shares of NYSE HPE opened at $30.88 on Tuesday. The firm has a market cap of $40.97 billion, a P/E ratio of -162.53, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.75 and a current ratio of 1.03. Hewlett Packard Enterprise Company has a 1 year low of $17.02 and a 1 year high of $31.64. The firm's 50 day moving average price is $24.87 and its 200 day moving average price is $23.49.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.06. Hewlett Packard Enterprise had a positive return on equity of 9.93% and a negative net margin of 0.41%.The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.31 billion. During the same period in the previous year, the firm posted $0.49 EPS. Hewlett Packard Enterprise's revenue was up 18.4% on a year-over-year basis. Hewlett Packard Enterprise has set its FY 2026 guidance at 2.300-2.500 EPS and its Q2 2026 guidance at 0.510-0.550 EPS. As a group, sell-side analysts anticipate that Hewlett Packard Enterprise Company will post 1.96 earnings per share for the current year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 23rd. Shareholders of record on Tuesday, March 24th were paid a $0.1425 dividend. This represents a $0.57 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 24th. Hewlett Packard Enterprise's dividend payout ratio (DPR) is presently -300.00%.

About Hewlett Packard Enterprise

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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