Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 62.0% during the 2nd quarter, Holdings Channel reports. The firm owned 62,952 shares of the utilities provider’s stock after purchasing an additional 24,087 shares during the quarter. Victory Capital Management Inc.’s holdings in Hawaiian Electric Industries were worth $568,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Hawaiian Electric Industries by 31.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,265 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 3,156 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Hawaiian Electric Industries in the first quarter worth $42,000. State Board of Administration of Florida Retirement System increased its position in shares of Hawaiian Electric Industries by 18.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 156,734 shares of the utilities provider’s stock worth $1,766,000 after acquiring an additional 24,328 shares in the last quarter. Vanguard Group Inc. increased its position 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 worth $124,638,000 after acquiring an additional 160,815 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Hawaiian Electric Industries by 470.4% during the 1st quarter. Acadian Asset Management LLC now owns 10,780 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 8,890 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Wells Fargo & Company upgraded shares of Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 price target on the stock in a research report on Friday, August 23rd. Finally, Evercore ISI reiterated an “in-line” rating and issued a $16.00 price objective on shares of Hawaiian Electric Industries in a research report on Wednesday, August 14th.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $10.97 on Monday. The firm’s 50 day moving average is $13.24 and its 200-day moving average is $11.39. The stock has a market capitalization of $1.21 billion, a P/E ratio of 6.49 and a beta of 0.55. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11. 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 announced its earnings results on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The firm had revenue of $792.30 million during the quarter. The firm’s revenue was down .2% compared to the same quarter last year.

Hawaiian Electric Industries 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.