Victory Capital Management Inc. Reduces Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Victory Capital Management Inc. lessened its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 58.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,287 shares of the utilities provider's stock after selling 30,186 shares during the period. Victory Capital Management Inc.'s holdings in Hawaiian Electric Industries were worth $207,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in Hawaiian Electric Industries by 203.0% during the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 2,062 shares during the period. R Squared Ltd purchased a new stake in Hawaiian Electric Industries during the fourth quarter valued at approximately $36,000. KBC Group NV lifted its position in Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider's stock worth $38,000 after buying an additional 1,021 shares during the last quarter. Quarry LP lifted its holdings in shares of Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider's stock worth $44,000 after acquiring an additional 2,748 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Hawaiian Electric Industries by 63.9% in the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock worth $47,000 after purchasing an additional 1,889 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several analysts have recently weighed in on HE shares. Evercore ISI upgraded Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Wells Fargo & Company increased their price objective on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Jefferies Financial Group lowered their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research report on Friday, January 3rd. StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Finally, Barclays upped their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.00.

Hawaiian Electric Industries Price Performance

Shares of HE stock traded down $0.21 on Tuesday, reaching $10.91. 980,191 shares of the company were exchanged, compared to its average volume of 3,466,218. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -0.92 and a beta of 0.46. The business has a 50-day moving average price of $10.17 and a 200 day moving average price of $10.16.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $799.18 million for the quarter. Equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.