Clearbridge Investments LLC Sells 172,006 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Clearbridge Investments LLC reduced its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 7.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,270,996 shares of the industrial products company’s stock after selling 172,006 shares during the quarter. Clearbridge Investments LLC owned approximately 0.06% of H&E Equipment Services worth $100,310,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. CWM LLC boosted its position in H&E Equipment Services by 42.5% in the 2nd quarter. CWM LLC now owns 932 shares of the industrial products company’s stock valued at $41,000 after buying an additional 278 shares during the period. Federated Hermes Inc. grew its stake in H&E Equipment Services by 0.7% in the second quarter. Federated Hermes Inc. now owns 46,350 shares of the industrial products company’s stock worth $2,047,000 after purchasing an additional 326 shares in the last quarter. ProShare Advisors LLC increased its holdings in H&E Equipment Services by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 5,781 shares of the industrial products company’s stock worth $371,000 after purchasing an additional 454 shares during the period. Diversified Trust Co raised its position in H&E Equipment Services by 5.3% during the 2nd quarter. Diversified Trust Co now owns 10,027 shares of the industrial products company’s stock valued at $443,000 after purchasing an additional 503 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of H&E Equipment Services by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,343 shares of the industrial products company’s stock worth $810,000 after buying an additional 627 shares during the period. 84.08% of the stock is currently owned by institutional investors.

H&E Equipment Services Stock Performance

Shares of HEES stock opened at $49.00 on Thursday. H&E Equipment Services, Inc. has a 12-month low of $38.06 and a 12-month high of $66.18. The business’s fifty day simple moving average is $46.81 and its 200-day simple moving average is $49.97. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 2.17. The company has a market cap of $1.79 billion, a PE ratio of 10.49, a PEG ratio of 10.35 and a beta of 1.85.

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

H&E Equipment Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Wednesday, August 28th. H&E Equipment Services’s dividend payout ratio (DPR) is presently 23.55%.

Wall Street Analyst Weigh In

HEES has been the topic of several research reports. Stifel Nicolaus cut their price target on H&E Equipment Services from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. UBS Group reduced 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 report on Wednesday, August 14th. Raymond James began coverage on shares of H&E Equipment Services in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, KeyCorp began coverage on shares of H&E Equipment Services in a report on Friday, August 9th. They set a “sector weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.