Quest Partners LLC Buys Shares of 2,472 H&E Equipment Services, Inc. (NASDAQ:HEES)

Quest Partners LLC purchased a new position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,472 shares of the industrial products company’s stock, valued at approximately $109,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in H&E Equipment Services during the fourth quarter worth approximately $11,827,000. Loews Corp acquired a new stake in shares of H&E Equipment Services during the second quarter worth $5,742,000. Castleark Management LLC purchased a new stake in shares of H&E Equipment Services in the first quarter valued at $7,046,000. Wells Fargo & Company MN increased its stake in H&E Equipment Services by 64.8% in the fourth quarter. Wells Fargo & Company MN now owns 151,955 shares of the industrial products company’s stock valued at $7,950,000 after purchasing an additional 59,732 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in H&E Equipment Services by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 3,804,017 shares of the industrial products company’s stock worth $199,026,000 after buying an additional 51,626 shares during the period. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

H&E Equipment Services Stock Up 2.8 %

Shares of NASDAQ:HEES opened at $44.85 on Tuesday. The stock has a 50-day simple moving average of $47.30 and a 200-day simple moving average of $50.74. The stock has a market capitalization of $1.64 billion, a P/E ratio of 9.60, a PEG ratio of 9.16 and a beta of 1.85. H&E Equipment Services, Inc. has a 1 year low of $38.06 and a 1 year high of $66.18. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 0.61.

H&E Equipment Services (NASDAQ:HEES) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.12). H&E Equipment Services had a return on equity of 30.84% and a net margin of 10.53%. The business had revenue of $376.30 million for the quarter, compared to analysts’ expectations of $382.05 million. During the same quarter in the prior year, the firm earned $1.14 earnings per share. H&E Equipment Services’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts forecast that H&E Equipment Services, Inc. will post 3.52 earnings per share for the current year.

H&E Equipment Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.45%. The ex-dividend date was Wednesday, August 28th. H&E Equipment Services’s dividend payout ratio (DPR) is presently 23.55%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Raymond James assumed coverage on H&E Equipment Services in a report on Friday, June 28th. They issued a “market perform” rating for the company. Stifel Nicolaus dropped their price target on shares of H&E Equipment Services from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. UBS Group cut their price target on shares of H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Finally, KeyCorp initiated coverage on shares of H&E Equipment Services in a research note on Friday, August 9th. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, H&E Equipment Services currently has an average rating of “Moderate Buy” and an average price target of $61.67.

H&E Equipment Services Company 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.