Acadian Asset Management LLC reduced its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 10.9% during the second quarter, Holdings Channel reports. The institutional investor owned 41,423 shares of the utilities provider’s stock after selling 5,061 shares during the period. Acadian Asset Management LLC’s holdings in Hawaiian Electric Industries were worth $1,341,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Hawaiian Electric Industries by 6,287.3% in the first quarter. BlackRock Inc. now owns 9,095,425 shares of the utilities provider’s stock valued at $302,969,000 after buying an additional 8,953,026 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Hawaiian Electric Industries by 40.5% in the first quarter. Wells Fargo & Company MN now owns 2,629,891 shares of the utilities provider’s stock valued at $87,602,000 after buying an additional 757,984 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Hawaiian Electric Industries by 26.2% in the first quarter. Bank of New York Mellon Corp now owns 2,874,592 shares of the utilities provider’s stock valued at $95,753,000 after buying an additional 596,759 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Hawaiian Electric Industries by 631.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 591,407 shares of the utilities provider’s stock valued at $19,700,000 after buying an additional 510,595 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Hawaiian Electric Industries by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,685,627 shares of the utilities provider’s stock valued at $322,628,000 after buying an additional 489,152 shares in the last quarter. Institutional investors own 48.23% of the company’s stock.

Shares of Hawaiian Electric Industries, Inc. (NYSE HE) traded down 1.393% during midday trading on Wednesday, reaching $32.915. 140,743 shares of the company traded hands. The stock has a 50 day moving average price of $32.66 and a 200 day moving average price of $33.10. Hawaiian Electric Industries, Inc. has a 1-year low of $28.31 and a 1-year high of $34.08. The firm has a market capitalization of $3.58 billion, a PE ratio of 14.330 and a beta of 0.46.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.03. Hawaiian Electric Industries had a net margin of 9.91% and a return on equity of 8.83%. The firm had revenue of $556.90 million during the quarter, compared to analyst estimates of $568 million. During the same period in the prior year, the company posted $0.43 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts expect that Hawaiian Electric Industries, Inc. will post $1.46 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Wednesday, August 23rd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.71%. The ex-dividend date is Monday, August 21st. Hawaiian Electric Industries’s dividend payout ratio is currently 55.11%.

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Several equities research analysts recently weighed in on HE shares. Barclays PLC restated an “underweight” rating and issued a $29.00 price target (up previously from $27.00) on shares of Hawaiian Electric Industries in a research report on Sunday, April 23rd. BidaskClub cut shares of Hawaiian Electric Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, May 26th.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).

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Institutional Ownership by Quarter for Hawaiian Electric Industries (NYSE:HE)

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