KLP Kapitalforvaltning AS Invests $313,000 in H&E Equipment Services, Inc. (NASDAQ:HEES)

KLP Kapitalforvaltning AS purchased a new stake in H&E Equipment Services, Inc. (NASDAQ:HEES) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,400 shares of the industrial products company’s stock, valued at approximately $313,000.

Several other institutional investors have also recently bought and sold shares of HEES. Victory Capital Management Inc. increased its stake in shares of H&E Equipment Services by 1,238.8% in the 4th quarter. Victory Capital Management Inc. now owns 689,911 shares of the industrial products company’s stock valued at $33,778,000 after buying an additional 638,379 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in H&E Equipment Services in the fourth quarter worth about $28,780,000. American Century Companies Inc. raised its holdings in H&E Equipment Services by 17.2% during the 4th quarter. American Century Companies Inc. now owns 2,134,252 shares of the industrial products company’s stock worth $104,493,000 after purchasing an additional 313,880 shares during the last quarter. Fisher Asset Management LLC lifted its position in H&E Equipment Services by 77.1% during the 4th quarter. Fisher Asset Management LLC now owns 348,656 shares of the industrial products company’s stock valued at $17,070,000 after purchasing an additional 151,761 shares during the period. Finally, Sei Investments Co. bought a new position in shares of H&E Equipment Services in the 4th quarter valued at about $5,853,000. Institutional investors own 84.08% of the company’s stock.

Analysts Set New Price Targets

HEES has been the subject of several recent research reports. UBS Group reiterated a “neutral” rating and set a $92.00 target price (up previously from $60.00) on shares of H&E Equipment Services in a research report on Friday, January 17th. StockNews.com initiated coverage on shares of H&E Equipment Services in a research note on Sunday. They set a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, H&E Equipment Services presently has an average rating of “Hold” and a consensus price target of $71.33.

H&E Equipment Services Trading Down 1.2 %

NASDAQ:HEES opened at $93.08 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. The business’s 50-day simple moving average is $92.98 and its 200-day simple moving average is $69.19. H&E Equipment Services, Inc. has a fifty-two week low of $40.93 and a fifty-two week high of $101.28. The stock has a market capitalization of $3.41 billion, a PE ratio of 23.62 and a beta of 1.94.

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

H&E Equipment Services Dividend Announcement

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

H&E Equipment Services Company Profile

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.