Intech Investment Management LLC Buys New Stake in H&E Equipment Services, Inc. (NASDAQ:HEES)

Intech Investment Management LLC acquired a new stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,041 shares of the industrial products company’s stock, valued at approximately $343,000.

Several other institutional investors have also bought and sold shares of HEES. American Century Companies Inc. boosted its stake in shares of H&E Equipment Services by 104.6% during the 2nd quarter. American Century Companies Inc. now owns 1,410,554 shares of the industrial products company’s stock worth $62,304,000 after purchasing an additional 721,270 shares during the period. abrdn plc raised its holdings in shares of H&E Equipment Services by 5.2% in the 3rd quarter. abrdn plc now owns 338,938 shares of the industrial products company’s stock valued at $16,500,000 after purchasing an additional 16,681 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of H&E Equipment Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 275,363 shares of the industrial products company’s stock valued at $12,163,000 after purchasing an additional 770 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of H&E Equipment Services by 8.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 199,074 shares of the industrial products company’s stock valued at $8,793,000 after purchasing an additional 16,342 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of H&E Equipment Services by 186.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 194,102 shares of the industrial products company’s stock valued at $9,449,000 after purchasing an additional 126,244 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

H&E Equipment Services Trading Down 0.1 %

NASDAQ HEES opened at $58.32 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09. The firm has a market cap of $2.14 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 13.33 and a beta of 1.84. The company has a 50 day moving average price of $54.37 and a 200 day moving average price of $49.24. H&E Equipment Services, Inc. has a 52 week low of $40.92 and a 52 week high of $66.18.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.15). The firm had revenue of $384.86 million for the quarter, compared to the consensus estimate of $388.18 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. As a group, sell-side analysts forecast that H&E Equipment Services, Inc. will post 3.34 EPS for the current fiscal year.

H&E Equipment Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a yield of 1.89%. H&E Equipment Services’s payout ratio is 27.92%.

Analysts Set New Price Targets

HEES has been the subject of several recent research reports. 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. KeyCorp initiated coverage on shares of H&E Equipment Services in a report on Friday, August 9th. They issued a “sector weight” rating for the company. Finally, B. Riley restated a “buy” rating and issued a $60.00 price target (down previously from $62.00) on shares of H&E Equipment Services in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.25.

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.