Raymond James Financial Inc. Purchases Shares of 74,333 H&E Equipment Services, Inc. (NASDAQ:HEES)

Raymond James Financial Inc. acquired a new stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 74,333 shares of the industrial products company’s stock, valued at approximately $3,639,000. Raymond James Financial Inc. owned about 0.20% of H&E Equipment Services at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Millburn Ridgefield Corp purchased a new position in H&E Equipment Services during the third quarter worth approximately $84,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of H&E Equipment Services by 227.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,749 shares of the industrial products company’s stock worth $134,000 after buying an additional 1,910 shares during the period. L.M. Kohn & Company acquired a new position in H&E Equipment Services in the third quarter valued at $217,000. Wilmington Savings Fund Society FSB purchased a new stake in H&E Equipment Services during the third quarter valued at about $288,000. Finally, 272 Capital LP purchased a new stake in H&E Equipment Services during the third quarter valued at about $295,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

H&E Equipment Services Price Performance

Shares of NASDAQ HEES opened at $95.48 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.64 and a quick ratio of 0.59. 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 market capitalization of $3.50 billion, a price-to-earnings ratio of 24.23 and a beta of 1.94. The business has a 50-day moving average of $92.25 and a 200-day moving average of $66.89.

H&E Equipment Services (NASDAQ:HEES) last released its quarterly earnings results on Friday, February 21st. The industrial products company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.18. The firm had revenue of $384.08 million during the quarter, compared to analysts’ expectations of $372.50 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. On average, equities analysts anticipate that H&E Equipment Services, Inc. will post 3.25 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.15%. The ex-dividend date was Tuesday, February 18th. H&E Equipment Services’s dividend payout ratio (DPR) is 32.64%.

Analyst Upgrades and Downgrades

HEES has been the topic of several research analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $92.00 price objective (up from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. StockNews.com initiated coverage on shares of H&E Equipment Services in a report on Friday, March 21st. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, H&E Equipment Services presently has a consensus rating of “Hold” and a consensus price target of $71.33.

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.