Millennium Management LLC Buys 89,128 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Millennium Management LLC boosted its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 200.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,554 shares of the industrial products company’s stock after purchasing an additional 89,128 shares during the quarter. Millennium Management LLC owned about 0.37% of H&E Equipment Services worth $5,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HEES. American Century Companies Inc. lifted its position in H&E Equipment Services by 104.6% during the second quarter. American Century Companies Inc. now owns 1,410,554 shares of the industrial products company’s stock valued at $62,304,000 after acquiring an additional 721,270 shares during the last quarter. Loews Corp acquired a new position in shares of H&E Equipment Services in the second quarter valued at about $5,742,000. Castleark Management LLC purchased a new position in shares of H&E Equipment Services in the first quarter worth about $7,046,000. Cubist Systematic Strategies LLC purchased a new stake in H&E Equipment Services in the second quarter valued at approximately $2,793,000. Finally, Vanguard Group Inc. increased its holdings in H&E Equipment Services by 1.4% in the 4th 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. Hedge funds and other institutional investors own 84.08% of the company’s stock.

H&E Equipment Services Trading Down 1.3 %

Shares of HEES stock opened at $51.38 on Friday. 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 market cap of $1.88 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 10.35 and a beta of 1.84. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.61 and a quick ratio of 0.56. The stock has a 50 day simple moving average of $46.71 and a 200-day simple moving average of $49.62.

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

H&E Equipment Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Wednesday, August 28th. H&E Equipment Services’s payout ratio is 23.55%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. KeyCorp started coverage on shares of H&E Equipment Services in a report on Friday, August 9th. They set a “sector weight” rating for the company. Stifel Nicolaus reduced their price target on 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. Raymond James started coverage on H&E Equipment Services in a report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, UBS Group dropped 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 report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, H&E Equipment Services has an average rating of “Moderate Buy” and an average target price 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.