Quantbot Technologies LP Sells 94,877 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Quantbot Technologies LP cut its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 39.6% in the third quarter, according to its most recent 13F filing 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 period. Quantbot Technologies LP’s holdings in Hawaiian Electric Industries were worth $1,403,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC boosted its stake in Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after purchasing an additional 5,274,633 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Hawaiian Electric Industries by 20.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider’s stock worth $29,250,000 after purchasing an additional 514,989 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Hawaiian Electric Industries in the 3rd quarter worth approximately $239,000. Quest Partners LLC boosted its stake in Hawaiian Electric Industries by 126.1% in the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 4,453 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in Hawaiian Electric Industries in the 3rd quarter worth approximately $2,233,000. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HE. Wells Fargo & Company reduced their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research report on Monday, September 30th. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report 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 for the company in a research report on Tuesday, November 19th.

Hawaiian Electric Industries Stock Performance

HE opened at $10.41 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $1.79 billion, a PE ratio of -0.88 and a beta of 0.53. The firm has a 50 day moving average of $10.12 and a two-hundred day moving average of $11.16. Hawaiian Electric Industries, Inc. has a 12-month low of $7.61 and a 12-month high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). The firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. Hawaiian Electric Industries’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.37 earnings per share.

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.