Allspring Global Investments Holdings LLC Trims Stake in H&E Equipment Services, Inc. (NASDAQ:HEES)

Allspring Global Investments Holdings LLC lessened its position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 40.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,101 shares of the industrial products company’s stock after selling 2,124 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in H&E Equipment Services were worth $162,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Penn Mutual Asset Management LLC acquired a new stake in shares of H&E Equipment Services in the third quarter valued at approximately $201,000. Americana Partners LLC acquired a new stake in H&E Equipment Services during the 3rd quarter worth $202,000. DekaBank Deutsche Girozentrale acquired a new stake in H&E Equipment Services during the 3rd quarter worth $228,000. Advisor Resource Council purchased a new position in H&E Equipment Services during the 4th quarter worth $306,000. Finally, Strs Ohio increased its stake in H&E Equipment Services by 81.4% in the third quarter. Strs Ohio now owns 7,800 shares of the industrial products company’s stock valued at $336,000 after purchasing an additional 3,500 shares during the period. Institutional investors and hedge funds own 84.08% of the company’s stock.

Insider Activity

In other news, CEO Bradley W. Barber sold 15,385 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $57.54, for a total transaction of $885,252.90. Following the sale, the chief executive officer now owns 232,742 shares of the company’s stock, valued at approximately $13,391,974.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Bradley W. Barber sold 15,385 shares of H&E Equipment Services stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $57.54, for a total transaction of $885,252.90. Following the completion of the sale, the chief executive officer now directly owns 232,742 shares in the company, valued at $13,391,974.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lawrence C. Karlson sold 8,225 shares of H&E Equipment Services stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $60.98, for a total value of $501,560.50. Following the completion of the sale, the director now owns 47,172 shares of the company’s stock, valued at approximately $2,876,548.56. The disclosure for this sale can be found here. Insiders sold 75,800 shares of company stock worth $4,534,789 in the last 90 days. 12.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on H&E Equipment Services from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Stifel Nicolaus lifted their target price on H&E Equipment Services from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, StockNews.com raised H&E Equipment Services from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st.

H&E Equipment Services Price Performance

Shares of NASDAQ:HEES opened at $58.65 on Monday. H&E Equipment Services, Inc. has a 52 week low of $32.33 and a 52 week high of $66.18. The company has a 50-day moving average price of $59.53 and a 200 day moving average price of $52.12. The company has a market cap of $2.14 billion, a P/E ratio of 12.56, a PEG ratio of 0.82 and a beta of 1.95. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 2.33.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.22 by $0.25. H&E Equipment Services had a return on equity of 36.72% and a net margin of 11.52%. The business had revenue of $385.80 million during the quarter, compared to analysts’ expectations of $382.58 million. During the same period last year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. Research analysts predict that H&E Equipment Services, Inc. will post 5.02 earnings per share for the current year.

H&E Equipment Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.88%. H&E Equipment Services’s dividend payout ratio (DPR) is presently 23.55%.

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.