Bank of New York Mellon Corp Sells 7,273 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Bank of New York Mellon Corp trimmed its stake in H&E Equipment Services, Inc. (NASDAQ:HEES) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 248,513 shares of the industrial products company’s stock after selling 7,273 shares during the period. Bank of New York Mellon Corp owned about 0.68% of H&E Equipment Services worth $12,167,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB grew its holdings in shares of H&E Equipment Services by 17.7% in the 4th quarter. Handelsbanken Fonder AB now owns 6,637 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 1,000 shares during the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in H&E Equipment Services in the fourth quarter valued at about $2,240,000. Rhumbline Advisers grew its stake in H&E Equipment Services by 1.7% during the fourth quarter. Rhumbline Advisers now owns 45,678 shares of the industrial products company’s stock worth $2,236,000 after buying an additional 745 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in H&E Equipment Services during the fourth quarter worth about $28,780,000. Finally, Klein Pavlis & Peasley Financial Inc. increased its holdings in shares of H&E Equipment Services by 28.7% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 15,335 shares of the industrial products company’s stock worth $751,000 after buying an additional 3,420 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com began coverage on H&E Equipment Services in a report on Thursday. They issued a “hold” rating on the stock. UBS Group reissued a “neutral” rating and issued a $92.00 price objective (up previously from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.33.

H&E Equipment Services Price Performance

Shares of HEES stock opened at $92.95 on Friday. H&E Equipment Services, Inc. has a 1 year low of $40.93 and a 1 year high of $101.28. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09. The firm’s 50 day moving average is $85.08 and its 200-day moving average is $63.52. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 23.59 and a beta of 1.94.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings data on Friday, February 21st. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.18. The firm had revenue of $384.08 million for the quarter, compared to the consensus estimate of $372.50 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. Sell-side analysts forecast that H&E Equipment Services, Inc. will post 3.25 EPS for the current fiscal year.

H&E Equipment Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.18%. The ex-dividend date was Tuesday, February 18th. H&E Equipment Services’s dividend payout ratio is 32.64%.

About H&E Equipment Services

H&E Equipment Services, Inc engages in the provision of equipment services, which focus on heavy construction and industrial equipment. It operates through the following segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Services. The Equipment Rentals segment focuses on renting construction and industrial equipment.