Wells Fargo & Company MN Acquires 16,990 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Wells Fargo & Company MN raised its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 6.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 268,301 shares of the industrial products company’s stock after acquiring an additional 16,990 shares during the period. Wells Fargo & Company MN owned approximately 0.73% of H&E Equipment Services worth $13,136,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its position in H&E Equipment Services by 17.8% during the fourth quarter. Meeder Asset Management Inc. now owns 1,453 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 220 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of H&E Equipment Services by 38.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,172 shares of the industrial products company’s stock valued at $190,000 after purchasing an additional 1,166 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of H&E Equipment Services during the 3rd quarter valued at about $288,000. Commonwealth Equity Services LLC boosted its holdings in shares of H&E Equipment Services by 15.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,108 shares of the industrial products company’s stock worth $299,000 after buying an additional 799 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in H&E Equipment Services during the fourth quarter valued at approximately $313,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

H&E Equipment Services Price Performance

H&E Equipment Services stock opened at $90.96 on Wednesday. H&E Equipment Services, Inc. has a 52-week low of $40.93 and a 52-week high of $101.28. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 23.09 and a beta of 1.74. The firm’s fifty day moving average is $93.64 and its 200 day moving average is $71.81. 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 (NASDAQ:HEES) last released its quarterly earnings results on Friday, February 21st. The industrial products company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.81 by $0.18. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The company had revenue of $384.08 million during the quarter, compared to analyst estimates of $372.50 million. Sell-side analysts forecast that H&E Equipment Services, Inc. will post 3.25 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were given a $0.275 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.10 dividend on an annualized basis and a yield of 1.21%. H&E Equipment Services’s dividend payout ratio is presently 32.64%.

Analysts Set New Price Targets

A number of research firms have commented on HEES. StockNews.com began coverage on H&E Equipment Services in a report on Monday. They set a “hold” rating on the stock. UBS Group restated a “neutral” rating and issued a $92.00 price target (up from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $71.33.

About H&E Equipment Services

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.