Goldman Sachs Group Inc. Decreases Stock Position in H&E Equipment Services, Inc. (NASDAQ:HEES)

Goldman Sachs Group Inc. cut its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 8.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 354,070 shares of the industrial products company’s stock after selling 31,220 shares during the quarter. Goldman Sachs Group Inc. owned 0.97% of H&E Equipment Services worth $18,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of H&E Equipment Services during the fourth quarter valued at approximately $11,827,000. Assenagon Asset Management S.A. grew its holdings in H&E Equipment Services by 62.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 353,611 shares of the industrial products company’s stock worth $18,501,000 after acquiring an additional 136,504 shares during the last quarter. Shelton Capital Management increased its position in shares of H&E Equipment Services by 199.4% in the third quarter. Shelton Capital Management now owns 150,168 shares of the industrial products company’s stock valued at $6,486,000 after acquiring an additional 100,008 shares during the period. Foundry Partners LLC bought a new position in shares of H&E Equipment Services during the fourth quarter valued at about $4,000,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of H&E Equipment Services by 64.8% during the fourth quarter. Wells Fargo & Company MN now owns 151,955 shares of the industrial products company’s stock worth $7,950,000 after purchasing an additional 59,732 shares during the period. 84.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HEES. Stifel Nicolaus reduced their price target on H&E Equipment Services from $69.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. StockNews.com downgraded H&E Equipment Services from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, UBS Group dropped their price target on H&E Equipment Services from $66.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, May 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

H&E Equipment Services Stock Up 0.5 %

Shares of NASDAQ:HEES opened at $43.78 on Thursday. The firm has a market capitalization of $1.60 billion, a P/E ratio of 9.37, a P/E/G ratio of 1.60 and a beta of 1.93. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.62 and a current ratio of 0.85. The stock has a 50 day moving average price of $48.35 and a 200-day moving average price of $52.96. H&E Equipment Services, Inc. has a 52-week low of $38.06 and a 52-week high of $66.18.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.02). The firm had revenue of $371.20 million during the quarter, compared to the consensus estimate of $352.52 million. H&E Equipment Services had a return on equity of 34.33% and a net margin of 11.17%. H&E Equipment Services’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 EPS. As a group, equities research analysts anticipate that H&E Equipment Services, Inc. will post 4.08 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 30th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.51%. The ex-dividend date was Thursday, May 30th. H&E Equipment Services’s payout ratio is currently 23.55%.

H&E Equipment Services Profile

H&E Equipment Services, Inc operates as an integrated equipment services company in the United States. The company operates in five segments: Equipment Rentals, Sales of Rental Equipment, Sales of New Equipment, Parts Sales, and Repair and Maintenance Services. The Equipment Rentals segment provides construction and industrial equipment for rent on a daily, weekly, and monthly basis.