First Trust Advisors LP cut its holdings in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 16.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,229 shares of the industrial products company’s stock after selling 9,836 shares during the quarter. First Trust Advisors LP owned 0.13% of H&E Equipment Services worth $1,392,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in HEES. Strs Ohio increased its holdings in shares of H&E Equipment Services by 7.6% during the second quarter. Strs Ohio now owns 18,500 shares of the industrial products company’s stock worth $538,000 after purchasing an additional 1,300 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of H&E Equipment Services during the second quarter worth approximately $362,000. Boston Advisors LLC increased its holdings in shares of H&E Equipment Services by 1.4% during the second quarter. Boston Advisors LLC now owns 39,027 shares of the industrial products company’s stock worth $1,135,000 after purchasing an additional 536 shares during the period. Aperio Group LLC increased its holdings in shares of H&E Equipment Services by 5.6% during the second quarter. Aperio Group LLC now owns 18,959 shares of the industrial products company’s stock worth $551,000 after purchasing an additional 1,006 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in shares of H&E Equipment Services during the second quarter worth approximately $213,000. 74.05% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on HEES shares. Buckingham Research lifted their price objective on shares of H&E Equipment Services from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, November 11th. ValuEngine cut shares of H&E Equipment Services from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 20th. Bank of America cut shares of H&E Equipment Services from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Zacks Investment Research raised shares of H&E Equipment Services from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Thursday. Finally, BidaskClub cut shares of H&E Equipment Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $35.60.
In other H&E Equipment Services news, CEO Bradley W. Barber sold 21,273 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $36.91, for a total transaction of $785,186.43. Following the sale, the chief executive officer now owns 92,469 shares of the company’s stock, valued at $3,413,030.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.50% of the company’s stock.
Shares of NASDAQ:HEES opened at $33.00 on Friday. The company’s 50 day simple moving average is $33.22 and its 200 day simple moving average is $28.60. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.13 and a beta of 2.98. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.69 and a quick ratio of 0.47. H&E Equipment Services, Inc. has a 1 year low of $18.12 and a 1 year high of $37.85.
H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.11. The business had revenue of $353.00 million for the quarter, compared to analysts’ expectations of $341.41 million. H&E Equipment Services had a net margin of 6.71% and a return on equity of 33.21%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. As a group, analysts anticipate that H&E Equipment Services, Inc. will post 2.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.33%. H&E Equipment Services’s payout ratio is presently 51.64%.
About H&E Equipment Services
H&E Equipment Services, Inc operates as an integrated equipment services company. The company operates in five segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Repair and Maintenance Services. It rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks.
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