State Board of Administration of Florida Retirement System trimmed its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,798 shares of the utilities provider’s stock after selling 7,206 shares during the period. State Board of Administration of Florida Retirement System owned 0.14% of Hawaiian Electric Industries worth $6,280,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Hawaiian Electric Industries by 1.1% in the second quarter. Vanguard Group Inc. now owns 11,279,069 shares of the utilities provider’s stock worth $476,880,000 after acquiring an additional 122,333 shares during the period. BlackRock Inc. boosted its holdings in shares of Hawaiian Electric Industries by 15.3% in the second quarter. BlackRock Inc. now owns 11,137,599 shares of the utilities provider’s stock worth $470,897,000 after acquiring an additional 1,478,194 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Hawaiian Electric Industries by 173.1% in the third quarter. Nordea Investment Management AB now owns 7,505,184 shares of the utilities provider’s stock worth $312,666,000 after acquiring an additional 4,756,772 shares during the period. State Street Corp boosted its holdings in shares of Hawaiian Electric Industries by 7.8% in the second quarter. State Street Corp now owns 3,042,545 shares of the utilities provider’s stock worth $128,639,000 after acquiring an additional 220,450 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Hawaiian Electric Industries by 0.9% in the second quarter. Wells Fargo & Company MN now owns 2,958,255 shares of the utilities provider’s stock worth $125,074,000 after buying an additional 26,669 shares in the last quarter. 52.61% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating and set a $42.00 price objective on the stock in a research report on Wednesday, December 8th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.60.
Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, November 5th. The utilities provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.01). Hawaiian Electric Industries had a net margin of 8.93% and a return on equity of 10.37%. The firm had revenue of $756.90 million for the quarter. During the same quarter last year, the firm earned $0.59 EPS. On average, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 2.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Tuesday, November 23rd were given a dividend of $0.34 per share. The ex-dividend date was Monday, November 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 3.23%. Hawaiian Electric Industries’s payout ratio is 61.54%.
In other news, CEO Constance H. Lau sold 4,000 shares of Hawaiian Electric Industries stock in a transaction dated Tuesday, December 14th. The stock was sold at an average price of $41.53, for a total value of $166,120.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.83% of the company’s stock.
Hawaiian Electric Industries Company Profile
Hawaiian Electric Industries, Inc is a holding company, which engages in power, financial, and renewable and sustainable infrastructure investment businesses. It operates through the following segments: Electric Utility, Bank, and Other. The Electric Utility segment offers essential electric service in the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai.
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