Raymond James & Associates Decreases Stake in H&E Equipment Services, Inc. (NASDAQ:HEES)

Raymond James & Associates reduced its holdings in H&E Equipment Services, Inc. (NASDAQ:HEES) by 20.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,262 shares of the industrial products company’s stock after selling 12,046 shares during the period. Raymond James & Associates owned approximately 0.13% of H&E Equipment Services worth $2,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC lifted its stake in shares of H&E Equipment Services by 42.5% in the second quarter. CWM LLC now owns 932 shares of the industrial products company’s stock worth $41,000 after buying an additional 278 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in H&E Equipment Services during the first quarter worth about $62,000. SG Americas Securities LLC acquired a new stake in H&E Equipment Services during the first quarter worth about $170,000. Wellington Shields Capital Management LLC acquired a new stake in H&E Equipment Services during the first quarter worth about $205,000. Finally, Busey Bank acquired a new stake in H&E Equipment Services during the first quarter worth about $206,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

H&E Equipment Services Price Performance

Shares of HEES opened at $48.15 on Tuesday. H&E Equipment Services, Inc. has a 1-year low of $38.06 and a 1-year high of $66.18. The stock has a market cap of $1.76 billion, a PE ratio of 10.31, a P/E/G ratio of 10.45 and a beta of 1.89. The firm has a 50-day simple moving average of $47.25 and a two-hundred day simple moving average of $51.52. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.61 and a quick ratio of 0.56.

H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). H&E Equipment Services had a net margin of 10.53% and a return on equity of 30.84%. The company had revenue of $376.30 million for the quarter, compared to analyst estimates of $382.05 million. During the same quarter in the prior year, the business earned $1.14 earnings per share. H&E Equipment Services’s revenue was up 4.5% on a year-over-year basis. As a group, analysts forecast that H&E Equipment Services, Inc. will post 3.52 EPS for the current year.

H&E Equipment Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Wednesday, August 28th. H&E Equipment Services’s payout ratio is 23.55%.

Analyst Ratings Changes

Several research firms recently issued reports on HEES. KeyCorp began coverage on shares of H&E Equipment Services in a research report on Friday, August 9th. They set a “sector weight” rating for the company. Stifel Nicolaus cut their price objective on shares of H&E Equipment Services from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Raymond James assumed coverage on shares of H&E Equipment Services in a research report on Friday, June 28th. They set a “market perform” rating for the company. Finally, UBS Group dropped their price target on shares of H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, H&E Equipment Services has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

About H&E Equipment Services

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.