Quest Partners LLC purchased a new position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,472 shares of the industrial products company’s stock, valued at approximately $109,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in H&E Equipment Services during the fourth quarter worth approximately $11,827,000. Loews Corp acquired a new stake in shares of H&E Equipment Services during the second quarter worth $5,742,000. Castleark Management LLC purchased a new stake in shares of H&E Equipment Services in the first quarter valued at $7,046,000. Wells Fargo & Company MN increased its stake in H&E Equipment Services by 64.8% in the fourth quarter. Wells Fargo & Company MN now owns 151,955 shares of the industrial products company’s stock valued at $7,950,000 after purchasing an additional 59,732 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in H&E Equipment Services by 1.4% during the fourth 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. 84.08% of the stock is currently owned by hedge funds and other institutional investors.
H&E Equipment Services Stock Up 2.8 %
Shares of NASDAQ:HEES opened at $44.85 on Tuesday. The stock has a 50-day simple moving average of $47.30 and a 200-day simple moving average of $50.74. The stock has a market capitalization of $1.64 billion, a P/E ratio of 9.60, a PEG ratio of 9.16 and a beta of 1.85. 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 debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 0.61.
H&E Equipment Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.45%. The ex-dividend date was Wednesday, August 28th. H&E Equipment Services’s dividend payout ratio (DPR) is presently 23.55%.
Wall Street Analyst Weigh In
Several analysts have commented on the company. Raymond James assumed coverage on H&E Equipment Services in a report on Friday, June 28th. They issued a “market perform” rating for the company. Stifel Nicolaus dropped their price target on shares of 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. UBS Group cut 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 note on Wednesday, August 14th. Finally, KeyCorp initiated coverage on shares of H&E Equipment Services in a research note on Friday, August 9th. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, H&E Equipment Services currently has an average rating of “Moderate Buy” and an average price target of $61.67.
Read Our Latest Stock Report on HEES
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.
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