Millennium Management LLC Sells 136,143 Shares of H&E Equipment Services, Inc. (HEES)

Millennium Management LLC cut its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 84.9% in the 2nd quarter, Holdings Channel reports. The firm owned 24,129 shares of the industrial products company’s stock after selling 136,143 shares during the quarter. Millennium Management LLC’s holdings in H&E Equipment Services were worth $907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of HEES. OppenheimerFunds Inc. bought a new position in shares of H&E Equipment Services during the second quarter valued at approximately $202,000. Xact Kapitalforvaltning AB bought a new position in shares of H&E Equipment Services during the first quarter valued at approximately $236,000. Bank of Montreal Can bought a new position in shares of H&E Equipment Services during the second quarter valued at approximately $265,000. WINTON GROUP Ltd bought a new position in shares of H&E Equipment Services during the first quarter valued at approximately $272,000. Finally, Baird Financial Group Inc. bought a new position in shares of H&E Equipment Services during the second quarter valued at approximately $292,000. 76.47% of the stock is owned by institutional investors.

Shares of HEES stock opened at $24.36 on Tuesday. H&E Equipment Services, Inc. has a 12-month low of $19.57 and a 12-month high of $44.24. The company has a market capitalization of $862.27 million, a P/E ratio of 7.00, a price-to-earnings-growth ratio of 0.84 and a beta of 2.90. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.81 and a quick ratio of 0.52.

H&E Equipment Services (NASDAQ:HEES) last issued its quarterly earnings data on Thursday, October 25th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). H&E Equipment Services had a return on equity of 35.00% and a net margin of 11.58%. The business had revenue of $322.14 million during the quarter, compared to the consensus estimate of $301.40 million. Equities research analysts forecast that H&E Equipment Services, Inc. will post 2 EPS for the current fiscal year.

HEES has been the subject of a number of recent analyst reports. BidaskClub lowered H&E Equipment Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 11th. Bank of America decreased their price objective on H&E Equipment Services from $48.00 to $46.00 and set a “buy” rating for the company in a report on Friday, July 27th. Zacks Investment Research raised H&E Equipment Services from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, Macquarie set a $25.00 price objective on H&E Equipment Services and gave the stock a “hold” rating in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $35.80.

In other H&E Equipment Services news, Director Paul Arnold acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was acquired at an average cost of $20.50 per share, with a total value of $205,000.00. Following the acquisition, the director now directly owns 58,204 shares of the company’s stock, valued at approximately $1,193,182. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 11.70% of the company’s stock.

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About H&E Equipment Services

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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