H&E Equipment Services, Inc. (NASDAQ:HEES) Shares Bought by Harbour Capital Advisors LLC

Harbour Capital Advisors LLC lifted its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,045 shares of the industrial products company’s stock after purchasing an additional 1,935 shares during the period. Harbour Capital Advisors LLC’s holdings in H&E Equipment Services were worth $1,370,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of H&E Equipment Services by 104.6% in the second quarter. American Century Companies Inc. now owns 1,410,554 shares of the industrial products company’s stock worth $62,304,000 after buying an additional 721,270 shares during the period. State Street Corp grew its position in H&E Equipment Services by 2.9% during 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. Geode Capital Management LLC raised 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 period. Charles Schwab Investment Management Inc. lifted its holdings in shares of H&E Equipment Services by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 571,947 shares of the industrial products company’s stock valued at $27,842,000 after purchasing an additional 41,749 shares in the last quarter. Finally, abrdn plc boosted its position in shares of H&E Equipment Services by 5.2% in the third quarter. abrdn plc now owns 338,938 shares of the industrial products company’s stock worth $16,500,000 after buying an additional 16,681 shares during the period. 84.08% of the stock is owned by hedge funds and other institutional investors.

H&E Equipment Services Stock Performance

H&E Equipment Services stock traded up $0.10 during trading hours on Monday, reaching $44.03. 209,990 shares of the company were exchanged, compared to its average volume of 262,325. H&E Equipment Services, Inc. has a 12 month low of $40.92 and a 12 month high of $66.18. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09. The stock has a 50-day moving average of $54.40 and a 200 day moving average of $50.42. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 13.05 and a beta of 1.88.

H&E Equipment Services (NASDAQ:HEES) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.15). H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The firm had revenue of $384.86 million during the quarter, compared to the consensus estimate of $388.18 million. During the same quarter last year, the business earned $1.46 EPS. The business’s revenue was down 4.0% compared to the same quarter last year. As a group, research analysts anticipate that H&E Equipment Services, Inc. will post 3.27 earnings per share for the current year.

H&E Equipment Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Friday, November 29th. H&E Equipment Services’s dividend payout ratio is currently 27.92%.

Wall Street Analysts Forecast Growth

Separately, B. Riley reissued a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, H&E Equipment Services has a consensus rating of “Moderate Buy” and an average price target of $61.25.

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.