Wedge Capital Management L L P NC Sells 55,008 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Wedge Capital Management L L P NC lessened its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 72.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,682 shares of the industrial products company’s stock after selling 55,008 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.06% of H&E Equipment Services worth $1,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Meeder Asset Management Inc. raised its holdings in H&E Equipment Services by 17.8% during the 4th quarter. Meeder Asset Management Inc. now owns 1,453 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 220 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in H&E Equipment Services by 2.4% during the 4th quarter. Jones Financial Companies Lllp now owns 12,280 shares of the industrial products company’s stock valued at $601,000 after acquiring an additional 282 shares in the last quarter. Swiss National Bank lifted its stake in H&E Equipment Services by 0.6% during the 4th quarter. Swiss National Bank now owns 64,600 shares of the industrial products company’s stock valued at $3,163,000 after acquiring an additional 400 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in H&E Equipment Services by 0.5% during the 4th quarter. Nuveen Asset Management LLC now owns 130,881 shares of the industrial products company’s stock valued at $6,408,000 after acquiring an additional 601 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in H&E Equipment Services by 1.7% during the 4th quarter. Rhumbline Advisers now owns 45,678 shares of the industrial products company’s stock valued at $2,236,000 after acquiring an additional 745 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen began coverage on H&E Equipment Services in a research note on Friday, May 16th. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, H&E Equipment Services currently has a consensus rating of “Hold” and a consensus price target of $71.33.

H&E Equipment Services Stock Performance

NASDAQ HEES opened at $94.64 on Wednesday. H&E Equipment Services, Inc. has a 12 month low of $40.93 and a 12 month high of $101.28. The stock has a market cap of $3.47 billion, a P/E ratio of 24.02 and a beta of 1.87. The stock’s fifty day moving average price is $92.76 and its 200-day moving average price is $82.63. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09.

H&E Equipment Services (NASDAQ:HEES) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.63). H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The business had revenue of $319.46 million for the quarter, compared to analysts’ expectations of $362.60 million. During the same period last year, the business earned $0.71 earnings per share. The company’s quarterly revenue was down 13.9% on a year-over-year basis. As a group, equities analysts forecast that H&E Equipment Services, Inc. will post 3.25 EPS for the current fiscal year.

H&E Equipment Services Company Profile

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, Sales of Rental Equipment, Sales of New Equipment, and Parts, Service and Other Revenues. The Equipment Rentals segment focuses on renting construction and industrial equipment.