California State Teachers Retirement System trimmed its holdings in H&E Equipment Services, Inc. (NASDAQ:HEES – Free Report) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,741 shares of the industrial products company’s stock after selling 1,729 shares during the period. California State Teachers Retirement System owned about 0.09% of H&E Equipment Services worth $2,101,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in HEES. Fidelis Capital Partners LLC bought a new stake in H&E Equipment Services during the first quarter worth approximately $62,000. SG Americas Securities LLC purchased a new stake in H&E Equipment Services in the 1st quarter worth approximately $170,000. Wellington Shields Capital Management LLC purchased a new stake in H&E Equipment Services in the 1st quarter worth approximately $205,000. Busey Bank acquired a new position in shares of H&E Equipment Services during the 1st quarter worth $206,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of H&E Equipment Services during the 1st quarter worth $217,000. Institutional investors and hedge funds own 84.08% of the company’s stock.
H&E Equipment Services Trading Down 1.7 %
Shares of HEES stock opened at $44.68 on Friday. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 9.98 and a beta of 1.89. The stock has a 50-day moving average of $46.55 and a 200-day moving average of $52.40. The company has a current ratio of 0.61, a quick ratio of 0.62 and a debt-to-equity ratio of 2.17. H&E Equipment Services, Inc. has a 1-year low of $38.06 and a 1-year high of $66.18.
H&E Equipment Services (NASDAQ:HEES – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.12). The company had revenue of $376.30 million during the quarter, compared to analyst estimates of $382.05 million. H&E Equipment Services had a net margin of 10.53% and a return on equity of 30.84%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. On average, equities research analysts forecast that H&E Equipment Services, Inc. will post 3.73 earnings per share for the current year.
H&E Equipment Services Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, May 30th were issued a $0.275 dividend. The ex-dividend date was Thursday, May 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.46%. H&E Equipment Services’s dividend payout ratio is presently 23.55%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on HEES shares. UBS Group lowered their target price on shares of H&E Equipment Services from $66.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Raymond James started coverage on shares of H&E Equipment Services in a report on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com downgraded H&E Equipment Services from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Stifel Nicolaus decreased their price objective on H&E Equipment Services from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, KeyCorp initiated coverage on shares of H&E Equipment Services in a report on Friday. They issued a “sector weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.67.
View Our Latest Report on HEES
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.
Further Reading
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