USS Investment Management Ltd Reduces Stock Position in Hewlett Packard Enterprise Company $HPE

Key Points

• USS Investment Management Ltd reduced its stake in Hewlett Packard Enterprise by 25.3%, selling 82,900 shares in the first quarter, bringing its total holdings to 245,351 shares worth approximately $3.78 million.
• The company announced a quarterly dividend of $0.13 per share to be paid on October 17th, with an annualized yield of 2.2%.
• Several research firms have raised their target prices for Hewlett Packard Enterprise, with Evercore ISI setting a new target of $28.00 and rating it as "outperform."

USS Investment Management Ltd lowered its stake in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 25.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 245,351 shares of the technology company's stock after selling 82,900 shares during the period. USS Investment Management Ltd's holdings in Hewlett Packard Enterprise were worth $3,787,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Putney Financial Group LLC acquired a new stake in shares of Hewlett Packard Enterprise during the fourth quarter valued at $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Hewlett Packard Enterprise during the first quarter valued at $25,000. Bruce G. Allen Investments LLC boosted its stake in shares of Hewlett Packard Enterprise by 345.0% during the first quarter. Bruce G. Allen Investments LLC now owns 1,700 shares of the technology company's stock valued at $26,000 after acquiring an additional 1,318 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Hewlett Packard Enterprise during the first quarter valued at $27,000. Finally, Hara Capital LLC acquired a new stake in Hewlett Packard Enterprise in the 4th quarter worth about $28,000. Institutional investors and hedge funds own 80.78% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on HPE. Evercore ISI raised their price target on Hewlett Packard Enterprise from $25.00 to $28.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. UBS Group raised their price target on Hewlett Packard Enterprise from $18.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, September 4th. Susquehanna raised their price target on Hewlett Packard Enterprise from $16.00 to $21.00 and gave the stock a "neutral" rating in a research note on Thursday, September 4th. KeyCorp began coverage on Hewlett Packard Enterprise in a research note on Thursday, June 26th. They issued a "sector weight" rating on the stock. Finally, Morgan Stanley raised Hewlett Packard Enterprise from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $22.00 to $28.00 in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Hewlett Packard Enterprise has a consensus rating of "Moderate Buy" and an average target price of $24.87.

Hewlett Packard Enterprise Trading Down 0.4%

Shares of NYSE HPE traded down $0.10 during midday trading on Friday, hitting $24.76. The stock had a trading volume of 20,682,177 shares, compared to its average volume of 19,262,834. The company has a market capitalization of $32.67 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.51 and a beta of 1.43. Hewlett Packard Enterprise Company has a 1-year low of $11.97 and a 1-year high of $25.10. The company has a quick ratio of 0.69, a current ratio of 0.95 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $21.52 and a 200 day moving average price of $18.48.

Hewlett Packard Enterprise Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Thursday, September 18th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, September 18th. Hewlett Packard Enterprise's dividend payout ratio (DPR) is presently 63.41%.

Insider Activity at Hewlett Packard Enterprise

In related news, EVP Phil Mottram sold 30,000 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $20.54, for a total transaction of $616,200.00. Following the sale, the executive vice president directly owned 42,427 shares in the company, valued at approximately $871,450.58. This trade represents a 41.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Antonio F. Neri sold 83,334 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $24.04, for a total value of $2,003,349.36. Following the sale, the chief executive officer owned 1,752,392 shares in the company, valued at approximately $42,127,503.68. The trade was a 4.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 461,924 shares of company stock worth $10,110,183. 0.36% of the stock is currently 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.