California State Teachers Retirement System lessened its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,823 shares of the utilities provider’s stock after selling 18,664 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Hawaiian Electric Industries worth $6,034,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of HE. Mackenzie Financial Corp purchased a new position in shares of Hawaiian Electric Industries during the 3rd quarter valued at about $1,358,000. Dimensional Fund Advisors LP raised its holdings in shares of Hawaiian Electric Industries by 3.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,014,372 shares of the utilities provider’s stock valued at $33,851,000 after buying an additional 29,468 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Hawaiian Electric Industries by 6.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 612,436 shares of the utilities provider’s stock valued at $20,437,000 after buying an additional 37,410 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Hawaiian Electric Industries during the 3rd quarter valued at about $7,074,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Hawaiian Electric Industries by 5.8% during the 3rd quarter. Wells Fargo & Company MN now owns 2,901,104 shares of the utilities provider’s stock valued at $96,810,000 after buying an additional 157,906 shares in the last quarter. Hedge funds and other institutional investors own 49.23% of the company’s stock.
Hawaiian Electric Industries, Inc. (NYSE HE) opened at $36.15 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $3,932.61, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 5.19 and a beta of 0.50. Hawaiian Electric Industries, Inc. has a 12 month low of $31.71 and a 12 month high of $38.72.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Wednesday, November 22nd were paid a $0.31 dividend. The ex-dividend date was Tuesday, November 21st. This represents a $1.24 dividend on an annualized basis and a yield of 3.43%. Hawaiian Electric Industries’s dividend payout ratio (DPR) is currently 76.07%.
In other Hawaiian Electric Industries news, Director Thomas B. Fargo sold 5,500 shares of Hawaiian Electric Industries stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $36.46, for a total value of $200,530.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is owned by insiders.
HE has been the topic of a number of research reports. Zacks Investment Research raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Tuesday, November 28th. JPMorgan Chase & Co. lifted their price target on Hawaiian Electric Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Finally, Bank of America initiated coverage on Hawaiian Electric Industries in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $34.00 price target on the stock. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $32.33.
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Hawaiian Electric Industries Company Profile
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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