H&E Equipment Services (NASDAQ:HEES) Sees Unusually-High Trading Volume – Here’s Why

H&E Equipment Services, Inc. (NASDAQ:HEES) saw unusually-high trading volume on Friday . Approximately 1,565,586 shares were traded during trading, an increase of 200% from the previous session’s volume of 521,117 shares.The stock last traded at $91.08 and had previously closed at $91.98.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group reissued a “neutral” rating and issued a $92.00 target price (up previously from $60.00) on shares of H&E Equipment Services in a research report on Friday, January 17th. StockNews.com began coverage on H&E Equipment Services in a report on Sunday, April 6th. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.33.

H&E Equipment Services Stock Down 1.1 %

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 company’s fifty day moving average price is $93.50 and its 200-day moving average price is $71.20. The stock has a market capitalization of $3.33 billion, a PE ratio of 23.08 and a beta of 1.74.

H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings data on Friday, February 21st. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.18. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The business had revenue of $384.08 million during the quarter, compared to analysts’ expectations of $372.50 million. Analysts forecast that H&E Equipment Services, Inc. will post 3.25 earnings per share for the current year.

H&E Equipment Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Tuesday, February 18th. H&E Equipment Services’s dividend payout ratio (DPR) is 32.64%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HEES. Access Financial Services Inc. grew its holdings in shares of H&E Equipment Services by 20.4% during the fourth quarter. Access Financial Services Inc. now owns 20,976 shares of the industrial products company’s stock valued at $1,027,000 after buying an additional 3,555 shares during the last quarter. Geode Capital Management LLC boosted its stake in H&E Equipment Services by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 755,017 shares of the industrial products company’s stock valued at $36,762,000 after purchasing an additional 4,226 shares during the last quarter. State Street Corp increased its holdings in shares of H&E Equipment Services by 2.9% in the 3rd quarter. State Street Corp now owns 779,075 shares of the industrial products company’s stock worth $37,925,000 after purchasing an additional 21,805 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of H&E Equipment Services by 17.7% in the fourth quarter. Handelsbanken Fonder AB now owns 6,637 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of H&E Equipment Services by 185.1% in the third quarter. Barclays PLC now owns 61,018 shares of the industrial products company’s stock worth $2,972,000 after purchasing an additional 39,617 shares during the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

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.