Great Lakes Retirement Inc. Purchases New Holdings in Hewlett Packard Enterprise Company $HPE

Great Lakes Retirement Inc. acquired a new position in Hewlett Packard Enterprise Company (NYSE:HPE) during the 3rd quarter, HoldingsChannel reports. The fund acquired 48,217 shares of the technology company’s stock, valued at approximately $1,184,000.

A number of other hedge funds have also made changes to their positions in the company. TFC Financial Management Inc. lifted its position in shares of Hewlett Packard Enterprise by 2,694.4% in the third quarter. TFC Financial Management Inc. now owns 1,006 shares of the technology company’s stock valued at $25,000 after acquiring an additional 970 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in Hewlett Packard Enterprise by 176.7% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,043 shares of the technology company’s stock valued at $26,000 after purchasing an additional 666 shares during the last quarter. Headlands Technologies LLC purchased a new position in Hewlett Packard Enterprise in the 2nd quarter valued at $26,000. Chilton Capital Management LLC purchased a new position in Hewlett Packard Enterprise in the 3rd quarter valued at $30,000. Finally, Clearstead Trust LLC boosted its stake in Hewlett Packard Enterprise by 93.8% during the 3rd quarter. Clearstead Trust LLC now owns 1,291 shares of the technology company’s stock worth $32,000 after purchasing an additional 625 shares during the last quarter. Institutional investors and hedge funds own 80.78% of the company’s stock.

Hewlett Packard Enterprise Stock Performance

NYSE:HPE opened at $21.57 on Thursday. The company’s 50-day moving average is $22.29 and its two-hundred day moving average is $23.08. Hewlett Packard Enterprise Company has a 1-year low of $11.97 and a 1-year high of $26.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a market capitalization of $28.66 billion, a price-to-earnings ratio of -359.44, a PEG ratio of 0.60 and a beta of 1.31.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings results on Thursday, December 4th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. Hewlett Packard Enterprise had a net margin of 0.17% and a return on equity of 9.15%. The firm had revenue of $9.68 billion for the quarter, compared to analyst estimates of $9.91 billion. During the same quarter in the previous year, the company earned $0.58 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. Analysts forecast that Hewlett Packard Enterprise Company will post 1.85 EPS for the current year.

Insider Activity at Hewlett Packard Enterprise

In related news, SVP Kirt P. Karros sold 36,460 shares of the business’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $24.61, for a total value of $897,280.60. Following the sale, the senior vice president directly owned 18,785 shares in the company, valued at approximately $462,298.85. The trade was a 66.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fidelma Russo sold 126,512 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $24.61, for a total transaction of $3,113,460.32. Following the transaction, the executive vice president directly owned 51,002 shares of the company’s stock, valued at approximately $1,255,159.22. This trade represents a 71.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 585,537 shares of company stock valued at $14,255,864 over the last 90 days. Corporate insiders own 0.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HPE. Argus raised their price target on shares of Hewlett Packard Enterprise from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hewlett Packard Enterprise in a report on Friday, December 26th. Zacks Research raised shares of Hewlett Packard Enterprise from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. The Goldman Sachs Group assumed coverage on Hewlett Packard Enterprise in a research report on Tuesday, January 13th. They issued a “buy” rating and a $31.00 price target for the company. Finally, Citigroup cut their price target on Hewlett Packard Enterprise from $28.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Hewlett Packard Enterprise presently has a consensus rating of “Hold” and an average price target of $25.29.

Hewlett Packard Enterprise Profile

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.