PNC Financial Services Group Inc. Increases Stock Holdings in Hewlett Packard Enterprise (NYSE:HPE)

PNC Financial Services Group Inc. boosted its stake in Hewlett Packard Enterprise (NYSE:HPE) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 389,691 shares of the technology company’s stock after acquiring an additional 5,584 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hewlett Packard Enterprise were worth $7,973,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HPE. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Hewlett Packard Enterprise in the third quarter valued at $4,349,000. Banque Cantonale Vaudoise boosted its position in Hewlett Packard Enterprise by 29.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 309,189 shares of the technology company’s stock valued at $6,327,000 after buying an additional 69,825 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of Hewlett Packard Enterprise by 13.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 17,233 shares of the technology company’s stock valued at $353,000 after acquiring an additional 2,068 shares in the last quarter. Legacy Bridge LLC increased its position in shares of Hewlett Packard Enterprise by 10.0% during the third quarter. Legacy Bridge LLC now owns 66,930 shares of the technology company’s stock worth $1,369,000 after acquiring an additional 6,105 shares during the last quarter. Finally, Caprock Group LLC lifted its stake in shares of Hewlett Packard Enterprise by 19.5% in the third quarter. Caprock Group LLC now owns 99,722 shares of the technology company’s stock worth $2,053,000 after acquiring an additional 16,289 shares in the last quarter. Institutional investors and hedge funds own 80.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on HPE. Susquehanna restated a “neutral” rating and set a $20.00 price objective on shares of Hewlett Packard Enterprise in a report on Friday, October 11th. Bank of America upgraded shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and upped their target price for the company from $21.00 to $24.00 in a research note on Tuesday, September 17th. UBS Group lifted their price target on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Barclays upgraded Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $20.00 to $24.00 in a research report on Wednesday, September 25th. Finally, Raymond James raised Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $23.00 to $29.00 in a research report on Monday, November 18th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.21.

Hewlett Packard Enterprise Stock Performance

HPE opened at $22.10 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $20.35 and its 200-day moving average is $19.60. The stock has a market cap of $28.69 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 3.36 and a beta of 1.19. Hewlett Packard Enterprise has a twelve month low of $14.47 and a twelve month high of $22.82.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, analysts predict that Hewlett Packard Enterprise will post 1.66 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.52 annualized dividend and a yield of 2.35%. Hewlett Packard Enterprise’s payout ratio is 37.14%.

Insiders Place Their Bets

In other news, CEO Antonio F. Neri sold 250,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.73, for a total value of $5,182,500.00. Following the completion of the sale, the chief executive officer now owns 1,508,641 shares in the company, valued at $31,274,127.93. This represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Neil B. Macdonald sold 29,000 shares of Hewlett Packard Enterprise stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $17.00, for a total value of $493,000.00. Following the transaction, the executive vice president now directly owns 82,061 shares in the company, valued at approximately $1,395,037. The trade was a 26.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 426,012 shares of company stock worth $8,599,617. 0.40% of the stock is owned by corporate insiders.

About Hewlett Packard Enterprise

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.