Clearbridge Investments LLC increased its position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,815,450 shares of the industrial products company’s stock after buying an additional 3,954 shares during the quarter. Clearbridge Investments LLC owned 5.09% of H&E Equipment Services worth $73,798,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in HEES. Public Employees Retirement System of Ohio grew its position in H&E Equipment Services by 10.1% during the second quarter. Public Employees Retirement System of Ohio now owns 5,014 shares of the industrial products company’s stock worth $102,000 after buying an additional 461 shares in the last quarter. SG Americas Securities LLC acquired a new stake in H&E Equipment Services during the third quarter worth about $159,000. Baker Ellis Asset Management LLC acquired a new stake in H&E Equipment Services during the fourth quarter worth about $163,000. Great West Life Assurance Co. Can grew its position in H&E Equipment Services by 223.0% during the third quarter. Great West Life Assurance Co. Can now owns 5,898 shares of the industrial products company’s stock worth $176,000 after buying an additional 4,072 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in H&E Equipment Services during the fourth quarter worth about $213,000. 75.86% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Leslie S. Magee sold 20,000 shares of H&E Equipment Services stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $42.45, for a total value of $849,000.00. Following the completion of the transaction, the chief financial officer now owns 63,428 shares in the company, valued at $2,692,518.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Bradley W. Barber sold 40,000 shares of H&E Equipment Services stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $40.49, for a total transaction of $1,619,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,135 shares of company stock valued at $3,958,324. Corporate insiders own 12.30% of the company’s stock.
H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.35. The firm had revenue of $294.67 million during the quarter, compared to analysts’ expectations of $258.80 million. H&E Equipment Services had a net margin of 10.65% and a return on equity of 43.81%. equities analysts expect that H&E Equipment Services, Inc. will post 1.94 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Monday, February 26th. H&E Equipment Services’s dividend payout ratio is 35.83%.
A number of equities research analysts recently weighed in on HEES shares. ValuEngine raised H&E Equipment Services from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Stifel Nicolaus initiated coverage on shares of H&E Equipment Services in a research note on Thursday, February 15th. They set a “buy” rating and a $46.00 price target for the company. Buckingham Research initiated coverage on shares of H&E Equipment Services in a research note on Tuesday, November 21st. They set a “buy” rating and a $39.00 price target for the company. Bank of America set a $45.00 price target on shares of H&E Equipment Services and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, UBS Group restated a “sell” rating and set a $18.00 price target (up previously from $17.00) on shares of H&E Equipment Services in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $36.00.
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H&E Equipment Services Profile
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.
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