California State Teachers Retirement System Cuts Stock Position in H&E Equipment Services, Inc. (NASDAQ:HEES)

California State Teachers Retirement System cut its holdings in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,572 shares of the industrial products company’s stock after selling 483 shares during the period. California State Teachers Retirement System owned about 0.11% of H&E Equipment Services worth $1,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Horizon Investment Services LLC purchased a new stake in shares of H&E Equipment Services during the first quarter worth approximately $985,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in H&E Equipment Services by 12.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,454 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 1,012 shares in the last quarter. Watershed Asset Management L.L.C. acquired a new position in H&E Equipment Services in the first quarter valued at approximately $269,000. Summit Global Investments acquired a new position in H&E Equipment Services in the first quarter valued at approximately $971,000. Finally, Barclays PLC boosted its holdings in H&E Equipment Services by 47.1% in the first quarter. Barclays PLC now owns 28,330 shares of the industrial products company’s stock valued at $1,253,000 after purchasing an additional 9,069 shares in the last quarter. 76.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HEES shares. StockNews.com assumed coverage on H&E Equipment Services in a report on Thursday, August 17th. They issued a “buy” rating for the company. B. Riley lifted their price objective on H&E Equipment Services from $47.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, July 28th.

H&E Equipment Services Trading Up 1.5 %

H&E Equipment Services stock opened at $45.69 on Wednesday. The stock has a market cap of $1.66 billion, a PE ratio of 10.60, a P/E/G ratio of 0.94 and a beta of 2.07. The stock has a 50-day moving average price of $46.24 and a 200 day moving average price of $44.10. H&E Equipment Services, Inc. has a 52 week low of $26.94 and a 52 week high of $56.47. The company has a current ratio of 1.84, a quick ratio of 1.13 and a debt-to-equity ratio of 3.05.

H&E Equipment Services (NASDAQ:HEES) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.12. H&E Equipment Services had a return on equity of 38.49% and a net margin of 11.50%. The firm had revenue of $360.23 million for the quarter, compared to analyst estimates of $344.84 million. During the same period last year, the company earned $0.76 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. Equities research analysts predict that H&E Equipment Services, Inc. will post 4.16 earnings per share for the current fiscal year.

H&E Equipment Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 30th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Tuesday, August 29th. H&E Equipment Services’s dividend payout ratio is currently 25.52%.

About H&E Equipment Services

H&E Equipment Services, Inc operates as an integrated equipment services company. The company operates in five segments: Equipment Rentals, Used Equipment Sales, New Equipment Sales, 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.