H&E Equipment Services, Inc. (NASDAQ:HEES) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in H&E Equipment Services, Inc. (NASDAQ:HEES) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 755,017 shares of the industrial products company’s stock after buying an additional 4,226 shares during the quarter. Geode Capital Management LLC owned approximately 2.06% of H&E Equipment Services worth $36,762,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in H&E Equipment Services by 104.6% in the second quarter. American Century Companies Inc. now owns 1,410,554 shares of the industrial products company’s stock valued at $62,304,000 after purchasing an additional 721,270 shares during the last quarter. Loews Corp acquired a new position in shares of H&E Equipment Services in the 2nd quarter valued at $5,742,000. Assenagon Asset Management S.A. grew its position in shares of H&E Equipment Services by 186.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 194,102 shares of the industrial products company’s stock valued at $9,449,000 after buying an additional 126,244 shares during the last quarter. Millennium Management LLC raised its stake in H&E Equipment Services by 200.6% during the 2nd quarter. Millennium Management LLC now owns 133,554 shares of the industrial products company’s stock worth $5,899,000 after acquiring an additional 89,128 shares in the last quarter. Finally, Bridgewater Associates LP purchased a new stake in H&E Equipment Services in the third quarter valued at $3,489,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

H&E Equipment Services Stock Performance

NASDAQ HEES opened at $50.21 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09. H&E Equipment Services, Inc. has a fifty-two week low of $40.92 and a fifty-two week high of $66.18. The business has a fifty day moving average of $55.78 and a 200-day moving average of $50.02. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 13.24 and a beta of 1.84.

H&E Equipment Services (NASDAQ:HEES) last issued its quarterly earnings results 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 business had revenue of $384.86 million during the quarter, compared to analyst estimates of $388.18 million. H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 earnings per share. As a group, analysts predict that H&E Equipment Services, Inc. will post 3.27 earnings per share for the current fiscal year.

H&E Equipment Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Friday, November 29th. H&E Equipment Services’s dividend payout ratio (DPR) is presently 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.