H&E Equipment Services, Inc. (NASDAQ:HEES) Stock Holdings Boosted by State Street Corp

State Street Corp lifted its stake in H&E Equipment Services, Inc. (NASDAQ:HEES) by 2.9% in the third quarter, HoldingsChannel reports. The fund owned 779,075 shares of the industrial products company’s stock after purchasing an additional 21,805 shares during the quarter. State Street Corp’s holdings in H&E Equipment Services were worth $37,925,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in H&E Equipment Services during the second quarter valued at about $37,000. Meeder Asset Management Inc. acquired a new position in H&E Equipment Services during the second quarter worth $65,000. Millburn Ridgefield Corp bought a new position in H&E Equipment Services during the third quarter valued at about $84,000. Quest Partners LLC acquired a new stake in shares of H&E Equipment Services in the second quarter worth about $109,000. Finally, Bailard Inc. bought a new stake in shares of H&E Equipment Services during the 2nd quarter worth about $203,000. 84.08% of the stock is owned by institutional investors and hedge funds.

H&E Equipment Services Stock Performance

HEES opened at $48.79 on Friday. The stock’s 50 day moving average price is $55.85 and its two-hundred day moving average price is $49.91. 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, Inc. has a 12-month low of $40.92 and a 12-month high of $66.18. The firm has a market capitalization of $1.79 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 13.24 and a beta of 1.84.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.15). The business had revenue of $384.86 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the company earned $1.46 EPS. On average, equities analysts forecast that H&E Equipment Services, Inc. will post 3.27 earnings per share for the current year.

H&E Equipment Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, November 29th. H&E Equipment Services’s dividend payout ratio is 27.92%.

Analyst Upgrades and Downgrades

Separately, B. Riley reissued a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.25.

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.