Macquarie Group Ltd. lessened its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 23.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,977,194 shares of the industrial products company’s stock after selling 607,411 shares during the quarter. Macquarie Group Ltd. owned 5.55% of H&E Equipment Services worth $80,373,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of HEES. Baker Ellis Asset Management LLC purchased a new stake in shares of H&E Equipment Services during the fourth quarter worth about $163,000. Public Employees Retirement System of Ohio increased its position in shares of 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 acquiring an additional 461 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of H&E Equipment Services during the fourth quarter worth about $213,000. SG Americas Securities LLC purchased a new stake in shares of H&E Equipment Services during the third quarter worth about $159,000. Finally, Paloma Partners Management Co purchased a new stake in shares of H&E Equipment Services during the fourth quarter worth about $231,000. Institutional investors own 75.89% of the company’s stock.
A number of analysts have recently issued reports on HEES shares. UBS reaffirmed a “sell” rating and set a $18.00 target price (up from $17.00) on shares of H&E Equipment Services in a research report on Friday, February 23rd. ValuEngine raised H&E Equipment Services from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Bank of America set a $45.00 target price on H&E Equipment Services and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Stifel Nicolaus started coverage on H&E Equipment Services in a research report on Thursday, February 15th. They set a “buy” rating and a $46.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. H&E Equipment Services has a consensus rating of “Buy” and a consensus target price of $36.00.
In other news, CEO John Engquist sold 1,696 shares of the company’s stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $40.02, for a total transaction of $67,873.92. Following the completion of the transaction, the chief executive officer now directly owns 2,595,626 shares of the company’s stock, valued at $103,876,952.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Leslie S. Magee sold 20,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 63,428 shares of the company’s stock, valued at $2,692,518.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 208,791 shares of company stock valued at $8,703,315. 12.00% of the stock is owned by corporate insiders.
H&E Equipment Services stock traded down $2.87 during midday trading on Friday, hitting $36.24. The stock had a trading volume of 467,095 shares, compared to its average volume of 276,922. The company has a quick ratio of 1.96, a current ratio of 2.38 and a debt-to-equity ratio of 4.36. The firm has a market cap of $1,292.25, a P/E ratio of 10.41, a P/E/G ratio of 1.30 and a beta of 2.48. H&E Equipment Services, Inc. has a 12 month low of $17.44 and a 12 month high of $44.24.
H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.35. The firm had revenue of $294.67 million during the quarter, compared to analyst estimates of $258.80 million. H&E Equipment Services had a return on equity of 43.81% and a net margin of 10.65%. equities research analysts anticipate that H&E Equipment Services, Inc. will post 1.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Tuesday, February 27th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.04%. The ex-dividend date was Monday, February 26th. H&E Equipment Services’s dividend payout ratio is currently 31.61%.
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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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