H&E Equipment Services, Inc. (NASDAQ:HEES) Shares Purchased by State Street Corp

State Street Corp raised its holdings in H&E Equipment Services, Inc. (NASDAQ:HEES) by 2.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 779,075 shares of the industrial products company’s stock after acquiring an additional 21,805 shares during the quarter. State Street Corp owned 2.13% of H&E Equipment Services worth $37,925,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Access Financial Services Inc. acquired a new stake in shares of H&E Equipment Services in the second quarter valued at about $957,000. Bank of New York Mellon Corp lifted its position in shares of H&E Equipment Services by 0.3% during the 2nd 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 acquiring an additional 770 shares during the period. Bailard Inc. purchased a new stake in shares of H&E Equipment Services during the 2nd quarter worth approximately $203,000. Panagora Asset Management Inc. grew its holdings in shares of H&E Equipment Services by 8.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 199,074 shares of the industrial products company’s stock worth $8,793,000 after acquiring an additional 16,342 shares during the period. Finally, Loews Corp purchased a new position in H&E Equipment Services in the 2nd quarter valued at approximately $5,742,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, B. Riley reiterated a “buy” rating and set a $60.00 target price (down from $62.00) on shares of H&E Equipment Services in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.25.

H&E Equipment Services Price Performance

HEES stock opened at $48.79 on Friday. The firm has a market cap of $1.79 billion, a P/E ratio of 12.38, a PEG ratio of 13.24 and a beta of 1.84. The stock’s 50 day moving average price is $55.85 and its 200 day moving average price is $49.91. H&E Equipment Services, Inc. has a 1 year low of $40.92 and a 1 year high of $66.18. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.59 and a current ratio of 0.64.

H&E Equipment Services (NASDAQ:HEES) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.15). The firm had revenue of $384.86 million during the quarter, compared to analysts’ expectations of $388.18 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. On average, sell-side analysts expect that H&E Equipment Services, Inc. will post 3.27 earnings per share for the current fiscal year.

H&E Equipment Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, November 29th. H&E Equipment Services’s dividend payout ratio is currently 27.92%.

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.