H&E Equipment Services (NASDAQ:HEES) Sets New 12-Month High – Here’s Why

Shares of H&E Equipment Services, Inc. (NASDAQ:HEES) reached a new 52-week high during trading on Wednesday . The stock traded as high as $90.76 and last traded at $89.61, with a volume of 585 shares changing hands. The stock had previously closed at $89.46.

Wall Street Analysts Forecast Growth

HEES has been the subject of several recent analyst reports. B. Riley reissued a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. StockNews.com began coverage on shares of H&E Equipment Services in a research report on Friday. They set a “hold” rating for the company. Finally, UBS Group restated a “neutral” rating and issued a $92.00 price objective (up from $60.00) on shares of H&E Equipment Services in a report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, H&E Equipment Services currently has a consensus rating of “Hold” and a consensus target price of $69.25.

H&E Equipment Services Stock Down 0.5 %

The stock has a market cap of $3.25 billion, a PE ratio of 22.53 and a beta of 1.88. 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 fifty day moving average of $58.59 and a 200 day moving average of $52.61.

H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share (EPS) 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 analyst estimates 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 for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. On average, equities research analysts anticipate that H&E Equipment Services, Inc. will post 3.27 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, November 29th. H&E Equipment Services’s payout ratio is 27.92%.

Institutional Investors Weigh In On H&E Equipment Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in shares of H&E Equipment Services by 7.1% during the third quarter. Nisa Investment Advisors LLC now owns 8,380 shares of the industrial products company’s stock worth $408,000 after buying an additional 555 shares during the last quarter. Diversified Trust Co grew its position in H&E Equipment Services by 5.7% in the 4th quarter. Diversified Trust Co now owns 10,615 shares of the industrial products company’s stock valued at $520,000 after buying an additional 574 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake 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 acquiring an additional 627 shares during the period. Segall Bryant & Hamill LLC lifted its position in H&E Equipment Services by 0.7% in the third quarter. Segall Bryant & Hamill LLC now owns 100,566 shares of the industrial products company’s stock valued at $4,896,000 after purchasing an additional 664 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in H&E Equipment Services during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

About H&E Equipment Services

H&E Equipment Services, Inc engages in the provision of equipment services, which focus on heavy construction and industrial equipment. It operates through the following segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Services. The Equipment Rentals segment focuses on renting construction and industrial equipment.