H&E Equipment Services, Inc. (NASDAQ:HEES) Holdings Cut by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its holdings in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,382 shares of the industrial products company’s stock after selling 2,587 shares during the quarter. Janney Montgomery Scott LLC owned about 0.10% of H&E Equipment Services worth $1,331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MetLife Investment Advisors LLC acquired a new position in H&E Equipment Services in the 4th quarter valued at about $626,000. Global X Management Co. LLC boosted its holdings in H&E Equipment Services by 147.0% in the 1st quarter. Global X Management Co. LLC now owns 7,436 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 4,426 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in H&E Equipment Services by 71.3% in the 1st quarter. Wells Fargo & Company MN now owns 174,102 shares of the industrial products company’s stock valued at $6,702,000 after purchasing an additional 72,454 shares during the last quarter. Alps Advisors Inc. acquired a new position in H&E Equipment Services in the 1st quarter valued at about $442,000. Finally, New York State Teachers Retirement System acquired a new position in H&E Equipment Services in the 1st quarter valued at about $108,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Several equities analysts have weighed in on HEES shares. Zacks Investment Research lowered shares of H&E Equipment Services from a “buy” rating to a “hold” rating in a report on Friday, June 1st. UBS Group raised shares of H&E Equipment Services from a “sell” rating to a “neutral” rating and set a $18.00 price target on the stock in a research note on Wednesday, June 27th. Bank of America reduced their price target on shares of H&E Equipment Services from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. ValuEngine raised shares of H&E Equipment Services from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Finally, BidaskClub downgraded shares of H&E Equipment Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 4th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.40.

In other H&E Equipment Services news, CEO John Engquist sold 2,100 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $40.05, for a total value of $84,105.00. Following the sale, the chief executive officer now directly owns 2,512,191 shares in the company, valued at $100,613,249.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 11.70% of the company’s stock.

Shares of NASDAQ:HEES traded down $0.12 during trading hours on Friday, reaching $34.81. The stock had a trading volume of 185,300 shares, compared to its average volume of 277,153. H&E Equipment Services, Inc. has a 1 year low of $21.32 and a 1 year high of $44.24. The company has a current ratio of 0.92, a quick ratio of 0.50 and a debt-to-equity ratio of 4.12. The company has a market cap of $1.23 billion, a PE ratio of 9.93, a P/E/G ratio of 0.89 and a beta of 2.46.

H&E Equipment Services (NASDAQ:HEES) last issued its earnings results on Thursday, July 26th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.14. The business had revenue of $310.40 million during the quarter, compared to analysts’ expectations of $282.25 million. H&E Equipment Services had a net margin of 11.08% and a return on equity of 42.25%. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 EPS. equities research analysts expect that H&E Equipment Services, Inc. will post 2.07 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Tuesday, August 21st will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.16%. The ex-dividend date is Monday, August 20th. H&E Equipment Services’s payout ratio is currently 31.61%.

H&E Equipment Services Company Profile

H&E Equipment Services, Inc operates as an integrated equipment services company. The company rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks. It offers heavy construction and industrial equipment for rent on a daily, weekly, and monthly basis.

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Institutional Ownership by Quarter for H&E Equipment Services (NASDAQ:HEES)

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