H&E Equipment Services, Inc. (HEES) Position Lowered by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut its position in H&E Equipment Services, Inc. (NASDAQ:HEES) by 23.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 201,829 shares of the industrial products company’s stock after selling 60,222 shares during the period. Goldman Sachs Group Inc. owned about 0.57% of H&E Equipment Services worth $4,949,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HEES. Russell Investments Group Ltd. bought a new position in shares of H&E Equipment Services during the fourth quarter worth about $771,000. State Street Corp boosted its position in shares of H&E Equipment Services by 4.9% in the fourth quarter. State Street Corp now owns 605,144 shares of the industrial products company’s stock worth $14,069,000 after buying an additional 28,152 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in shares of H&E Equipment Services during the fourth quarter worth about $145,000. Metropolitan Life Insurance Co. NY boosted its position in shares of H&E Equipment Services by 5.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 22,455 shares of the industrial products company’s stock worth $522,000 after buying an additional 1,168 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of H&E Equipment Services by 41.5% in the fourth quarter. Guggenheim Capital LLC now owns 63,924 shares of the industrial products company’s stock worth $1,486,000 after buying an additional 18,738 shares during the last quarter. Institutional investors and hedge funds own 77.19% of the company’s stock.

H&E Equipment Services, Inc. (NASDAQ:HEES) opened at 21.59 on Friday. The stock’s 50 day moving average price is $21.44 and its 200-day moving average price is $22.52. H&E Equipment Services, Inc. has a one year low of $12.72 and a one year high of $27.54. The stock has a market cap of $759.43 million, a P/E ratio of 19.47 and a beta of 2.55.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.07. The company had revenue of $249.40 million for the quarter, compared to the consensus estimate of $237.81 million. H&E Equipment Services had a return on equity of 27.93% and a net margin of 4.08%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 EPS. On average, analysts predict that H&E Equipment Services, Inc. will post $1.21 earnings per share for the current year.

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HEES has been the topic of a number of recent research reports. Zacks Investment Research cut H&E Equipment Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 25th. Royal Bank Of Canada restated a “buy” rating and issued a $30.00 target price on shares of H&E Equipment Services in a report on Wednesday, July 12th. UBS AG restated a “sell” rating and issued a $16.00 target price (up from $15.00) on shares of H&E Equipment Services in a report on Monday, July 31st. Finally, BidaskClub upgraded H&E Equipment Services from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st.

About H&E Equipment Services

H&E Equipment Services, Inc is an integrated equipment services company. The Company is focused on heavy construction and industrial equipment. As of December 31, 2016, the Company rented, sold and provided parts and services support for four core categories of specialized equipment: hi-lift or aerial work platform equipment; cranes; earthmoving equipment, and industrial lift trucks.

Institutional Ownership by Quarter for H&E Equipment Services (NASDAQ:HEES)

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