AQR Capital Management LLC has recently announced that it has increased stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 1,470.75%. After grabbing 6.12 million shares, the institutional investor is now in possession of 5.73 million shares of the Utilities Company. The new investment brought the stake of investor firm to 5.56% having worth around $86.84 million. Moreover, Two Sigma Investments LP increased its share by 2.32 million to have a control over 2.32 million shares. And Two Sigma Advisers LP raised its holdings to 2.04 million shares by acquiring 2.04 million shares or 1.85% of the stake.
Hawaiian Electric Industries, Inc. (HE) concluded trading on Wednesday at a closing price of $13.17, with 3.82 million shares of worth about $50.27 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -66.72% during that period and On Wednesday, January 24 the price saw a loss of about -1.35%. Currently the company’s common shares owned by public are about 110.12M shares, out of which, 109.78M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 30 times over the past 12 months. They bought 101,949 shares in 21 of the transactions. In 9 selling transactions, insiders dumped 29,106 shares.
Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Vanguard Small Cap Value Index Fu are the top 3 mutual funds which are holding stakes in Hawaiian Electric Industries, Inc. Vanguard Total Stock Market ETF is currently holding 3.43 million shares of worth totaling $48.7 million. The company recently came buying 4495.0 shares which brought its stake up to 3.12% of the company’s outstanding shares. Vanguard Small Cap Index Fund sold 45982.0 shares, after which its hold over company’s outstanding shares shrunk to 2.54%, leaving 2.79 million shares with the mutual fund that have a worth of about $39.61 million. Vanguard Small Cap Value Index Fu, after selling 1.92 million shares, have now control over 1.74% of the stake in the company. It holds 46898.0 shares of worth $27.24 million.
However, the stock later moved at a day high price of 14.06, or with a loss of -1.35%. Stock saw a price change of -0.53% in past 5 days and over the past one month there was a price change of -5.66%. Year-to-date (YTD), HE shares are showing a performance of -7.19% which decreased to -68.06% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.06 but also hit the highest price of $43.71 during that period. The average intraday trading volume for Hawaiian Electric Industries, Inc. shares is 2.72 million. The stock is currently trading -6.00% below its 20-day simple moving average (SMA20), while that difference is down -2.35% for SMA50 and it goes to -44.90% lower than SMA200.
AQR Capital Management LLC acquired 6.12 million shares of Hawaiian Electric Industries, Inc. having value of about $86.84 million. Data submitted at the U.S SEC by AQR Capital Management LLC revealed that the firm now holds 5.73 million shares in the company valued at close to $75469736.76, or have control over 1,470.75% stake in the company. Hawaiian Electric Industries, Inc. (NYSE: HE) currently have 110.12M outstanding shares and institutions hold larger chunk of about 58.58% of that. Holding of mutual funds in the company is about 34.30% while other institutional holders and individual stake holders have control over 4.69% and 24.29% of the stake respectively.
The stock has a current market capitalization of $1.45B and its 3Y-monthly beta is at 0.57. PE ratio of stock for trailing 12 months is 6.96, while it has posted earnings per share of $1.89 in the same period. Its PEG reads 1.66 and has Quick Ratio of 3.90 while making debt-to-equity ratio of 1.74. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HE, volatility over the week remained 4.18% while standing at 4.49% over the month.
Analysts are in expectations that Hawaiian Electric Industries, Inc. (HE) stock would likely to be making an EPS of $0.5 in the current quarter, while forecast for next quarter EPS is $0.36 and it is $2.1 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.5 which is $0.5 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.52 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -7.98% while it is estimated to increase by 2.53% in next year. EPS is likely to shrink at an annualized rate of 4.20% for next 5-years, compared to annual growth of 7.68% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on November 10, 2023 offering an Underweight rating for the stock and assigned a target price range of between $8 and $8.50 to it.
