The Manufacturers Life Insurance Company Has $880,000 Stock Holdings in H&E Equipment Services, Inc. (NASDAQ:HEES)

The Manufacturers Life Insurance Company decreased its position in H&E Equipment Services, Inc. (NASDAQ:HEES) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,084 shares of the industrial products company’s stock after selling 259 shares during the period. The Manufacturers Life Insurance Company’s holdings in H&E Equipment Services were worth $880,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. raised its stake 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 worth $62,304,000 after acquiring an additional 721,270 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of H&E Equipment Services by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 571,947 shares of the industrial products company’s stock worth $27,842,000 after purchasing an additional 41,749 shares in the last quarter. abrdn plc lifted its holdings in H&E Equipment Services by 5.2% during the 3rd quarter. abrdn plc now owns 338,938 shares of the industrial products company’s stock valued at $16,500,000 after purchasing an additional 16,681 shares during the last quarter. Bank of New York Mellon Corp boosted its position in H&E Equipment Services by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 275,363 shares of the industrial products company’s stock valued at $12,163,000 after buying an additional 770 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its stake in H&E Equipment Services by 8.9% during the second quarter. Panagora Asset Management Inc. now owns 199,074 shares of the industrial products company’s stock worth $8,793,000 after buying an additional 16,342 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.

H&E Equipment Services Trading Down 1.2 %

Shares of H&E Equipment Services stock opened at $56.03 on Friday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.59 and a current ratio of 0.64. The firm has a 50-day moving average of $55.77 and a 200-day moving average of $49.71. H&E Equipment Services, Inc. has a 52-week low of $40.92 and a 52-week high of $66.18. The stock has a market cap of $2.05 billion, a PE ratio of 14.22, a PEG ratio of 13.70 and a beta of 1.84.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.15). The firm had revenue of $384.86 million for the quarter, compared to the consensus estimate of $388.18 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 EPS. As a group, sell-side analysts forecast that H&E Equipment Services, Inc. will post 3.34 EPS for the current year.

H&E Equipment Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a yield of 1.96%. H&E Equipment Services’s payout ratio is presently 27.92%.

Wall Street Analyst Weigh In

Separately, B. Riley reissued a “buy” rating and set a $60.00 price target (down from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.25.

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.