Geode Capital Management LLC Increases Stock Position in H&E Equipment Services, Inc. (NASDAQ:HEES)

Geode Capital Management LLC raised its holdings in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 755,017 shares of the industrial products company’s stock after purchasing an additional 4,226 shares during the quarter. Geode Capital Management LLC’s holdings in H&E Equipment Services were worth $36,762,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of H&E Equipment Services during the 2nd quarter valued at about $37,000. Meeder Asset Management Inc. bought a new position in H&E Equipment Services during the second quarter valued at about $65,000. Millburn Ridgefield Corp acquired a new position in H&E Equipment Services in the third quarter worth approximately $84,000. Quest Partners LLC acquired a new stake in shares of H&E Equipment Services during the second quarter worth $109,000. Finally, L.M. Kohn & Company purchased a new stake in shares of H&E Equipment Services during the third quarter valued at $217,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

H&E Equipment Services Trading Up 2.1 %

H&E Equipment Services stock opened at $50.21 on Wednesday. H&E Equipment Services, Inc. has a 12 month low of $40.92 and a 12 month high of $66.18. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 13.24 and a beta of 1.84. The business has a 50 day moving average price of $55.78 and a two-hundred day moving average price of $50.02. 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 posted its earnings results on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.15). The business had revenue of $384.86 million during the quarter, compared to the consensus estimate of $388.18 million. H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. As a group, equities analysts forecast that H&E Equipment Services, Inc. will post 3.27 EPS for the current year.

H&E Equipment Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, November 29th. H&E Equipment Services’s dividend payout ratio (DPR) is currently 27.92%.

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.