Quantbot Technologies LP Decreases Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Quantbot Technologies LP decreased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 39.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 144,924 shares of the utilities provider’s stock after selling 94,877 shares during the quarter. Quantbot Technologies LP owned about 0.13% of Hawaiian Electric Industries worth $1,403,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HE. Vanguard Group Inc. raised its stake in shares of Hawaiian Electric Industries by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock valued at $124,638,000 after acquiring an additional 160,815 shares during the period. AQR Capital Management LLC raised its stake in shares of Hawaiian Electric Industries by 52.8% in the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after acquiring an additional 2,312,950 shares during the period. FMR LLC raised its stake in shares of Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after acquiring an additional 5,274,633 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Hawaiian Electric Industries by 20.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider’s stock valued at $29,250,000 after acquiring an additional 514,989 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Hawaiian Electric Industries by 79.0% in the second quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock valued at $16,868,000 after acquiring an additional 825,073 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HE shares. Wells Fargo & Company reduced their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Finally, Evercore ISI reduced their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 19th.

Hawaiian Electric Industries Stock Down 1.2 %

Shares of Hawaiian Electric Industries stock opened at $10.41 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick 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 firm’s 50-day moving average is $10.12 and its two-hundred day moving average is $11.16. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). 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 $983.38 million for the quarter. During the same quarter last year, the firm posted $0.37 EPS. Hawaiian Electric Industries’s quarterly revenue was up 9.0% compared to the same quarter last year.

About Hawaiian Electric Industries

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.