Fmr LLC Trims Stake in H&E Equipment Services, Inc. (NASDAQ:HEES)

Fmr LLC reduced its holdings in H&E Equipment Services, Inc. (NASDAQ:HEES) by 97.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,602 shares of the industrial products company’s stock after selling 62,777 shares during the period. Fmr LLC’s holdings in H&E Equipment Services were worth $78,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in H&E Equipment Services during the third quarter worth $398,000. Fisher Asset Management LLC raised its position in H&E Equipment Services by 14.8% in the 3rd quarter. Fisher Asset Management LLC now owns 196,895 shares of the industrial products company’s stock valued at $9,585,000 after purchasing an additional 25,413 shares in the last quarter. Algert Global LLC raised its holdings in shares of H&E Equipment Services by 40.3% in the 3rd quarter. Algert Global LLC now owns 123,498 shares of the industrial products company’s stock valued at $6,012,000 after purchasing an additional 35,503 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in H&E Equipment Services by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 571,947 shares of the industrial products company’s stock valued at $27,842,000 after purchasing an additional 41,749 shares in the last quarter. Finally, Foundry Partners LLC grew its holdings in shares of H&E Equipment Services by 4.7% during the third quarter. Foundry Partners LLC now owns 94,335 shares of the industrial products company’s stock worth $4,592,000 after purchasing an additional 4,256 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Analysts Set New Price Targets

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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock 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 $49.20 on Tuesday. H&E Equipment Services, Inc. has a twelve month low of $40.92 and a twelve month high of $66.18. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average price of $55.78 and a two-hundred day moving average price of $50.02. The company has a market capitalization of $1.80 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 13.24 and a beta of 1.84.

H&E Equipment Services (NASDAQ:HEES) last released its 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 for the quarter, compared to analysts’ expectations of $388.18 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 earnings per share. As a group, research analysts expect 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 business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Friday, November 29th. H&E Equipment Services’s dividend payout ratio is presently 27.92%.

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.