H&E Equipment Services (NASDAQ:HEES) Sees Large Volume Increase – Here’s What Happened

Shares of H&E Equipment Services, Inc. (NASDAQ:HEES) saw unusually-strong trading volume on Wednesday . Approximately 2,090,155 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 1,835,717 shares.The stock last traded at $89.54 and had previously closed at $90.29.

Analysts Set New Price Targets

Separately, B. Riley reaffirmed a “buy” rating and issued a $60.00 target price (down previously 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. According to data from MarketBeat.com, H&E Equipment Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.25.

H&E Equipment Services Stock Down 1.3 %

The firm’s 50 day moving average is $55.04 and its two-hundred day moving average is $50.75. The firm has a market cap of $3.26 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 13.05 and a beta of 1.88. 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 announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.15). H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The company had revenue of $384.86 million during the quarter, compared to the consensus estimate of $388.18 million. During the same period in the previous year, the firm posted $1.46 EPS. The business’s quarterly 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 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, November 29th. H&E Equipment Services’s payout ratio is currently 27.92%.

Institutional Trading of H&E Equipment Services

A number of hedge funds and other institutional investors have recently made changes to their positions in HEES. Rhumbline Advisers raised its holdings in shares of H&E Equipment Services by 3.4% in the second quarter. Rhumbline Advisers now owns 46,691 shares of the industrial products company’s stock valued at $2,062,000 after purchasing an additional 1,525 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of H&E Equipment Services in the second quarter valued at approximately $109,000. Federated Hermes Inc. raised its holdings in shares of H&E Equipment Services by 0.7% in the second quarter. Federated Hermes Inc. now owns 46,350 shares of the industrial products company’s stock valued at $2,047,000 after purchasing an additional 326 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of H&E Equipment Services by 420.5% in the second quarter. Renaissance Technologies LLC now owns 33,832 shares of the industrial products company’s stock valued at $1,494,000 after purchasing an additional 27,332 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of H&E Equipment Services in the second quarter valued at approximately $239,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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, New Equipment Sales, Used Equipment Sales, Parts Sales, and Services. The Equipment Rentals segment focuses on renting construction and industrial equipment.