The Concert Wealth Management Inc. Acquires Shares of 13,366 Hawaiian Electric Industries Inc. (HE)

The Concert Wealth Management Inc. Acquires Shares of 13,366 Hawaiian Electric Industries Inc. (HE)

Concert Wealth Management Inc. purchased a new stake in Hawaiian Electric Industries Inc. (NYSE:HE) during the second quarter, Holdings Channel reports. The institutional investor purchased 13,366 shares of the company’s stock, valued at approximately $438,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HE. First Republic Investment Management Inc. boosted its stake in shares of Hawaiian Electric Industries by 1.3% in the first quarter. First Republic Investment Management Inc. now owns 16,161 shares of the company’s stock valued at $524,000 after buying an additional 200 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Hawaiian Electric Industries by 0.3% in the second quarter. Retirement Systems of Alabama now owns 139,174 shares of the company’s stock valued at $4,564,000 after buying an additional 396 shares in the last quarter. Credit Agricole S A boosted its stake in shares of Hawaiian Electric Industries by 7.3% in the first quarter. Credit Agricole S A now owns 29,207 shares of the company’s stock valued at $946,000 after buying an additional 1,977 shares in the last quarter. LS Investment Advisors LLC boosted its stake in shares of Hawaiian Electric Industries by 72.8% in the second quarter. LS Investment Advisors LLC now owns 6,430 shares of the company’s stock valued at $211,000 after buying an additional 2,708 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Hawaiian Electric Industries by 3.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 97,534 shares of the company’s stock valued at $3,160,000 after buying an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 43.80% of the company’s stock.

Hawaiian Electric Industries Inc. (NYSE:HE) traded up 1.32% during mid-day trading on Thursday, hitting $29.12. 290,423 shares of the stock traded hands. The firm’s 50-day moving average is $29.85 and its 200-day moving average is $31.68. Hawaiian Electric Industries Inc. has a 12-month low of $27.30 and a 12-month high of $34.98. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 18.49 and a beta of 0.26.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Thursday, August 4th. The company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The business had revenue of $566.24 million for the quarter, compared to the consensus estimate of $622.85 million. Hawaiian Electric Industries had a net margin of 6.97% and a return on equity of 9.26%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Equities research analysts expect that Hawaiian Electric Industries Inc. will post $1.67 EPS for the current year.

Separately, Zacks Investment Research raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th.

In related news, Director Barry K. Taniguchi sold 14,942 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $30.29, for a total value of $452,593.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas B. Fargo sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $30.60, for a total transaction of $214,200.00. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc (HEI) is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s segments include Electric utility, Bank and Other. The Company operates its electric utility business through Hawaiian Electric Company, Inc and its subsidiaries, Hawaii Electric Light Company, Inc and Maui Electric Company, Limited (Maui Electric).

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