Raymond James Financial Services Advisors Inc. cut its holdings in H&E Equipment Services, Inc. (NASDAQ:HEES – Get Rating) by 7.3% during the third quarter, HoldingsChannel reports. The fund owned 31,240 shares of the industrial products company’s stock after selling 2,442 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in H&E Equipment Services were worth $885,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. acquired a new position in H&E Equipment Services in the second quarter valued at approximately $35,000. Point72 Hong Kong Ltd acquired a new position in H&E Equipment Services in the second quarter valued at approximately $48,000. Eagle Bay Advisors LLC acquired a new position in H&E Equipment Services in the second quarter valued at approximately $51,000. National Bank of Canada FI acquired a new position in H&E Equipment Services in the second quarter valued at approximately $94,000. Finally, SG Americas Securities LLC acquired a new position in H&E Equipment Services during the second quarter worth $102,000. 75.12% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have commented on HEES shares. B. Riley started coverage on H&E Equipment Services in a research note on Tuesday, December 13th. They set a “buy” rating and a $53.00 price target on the stock. StockNews.com started coverage on H&E Equipment Services in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Stifel Nicolaus upped their price target on H&E Equipment Services from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. Finally, Wells Fargo & Company upped their price target on H&E Equipment Services from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 10th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $55.00.
H&E Equipment Services Stock Up 1.6 %
H&E Equipment Services (NASDAQ:HEES – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The industrial products company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.19. H&E Equipment Services had a return on equity of 32.06% and a net margin of 11.44%. The business had revenue of $324.28 million for the quarter, compared to analyst estimates of $302.40 million. As a group, equities analysts expect that H&E Equipment Services, Inc. will post 3.26 earnings per share for the current fiscal year.
H&E Equipment Services Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Monday, November 28th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.28%. The ex-dividend date was Friday, November 25th. H&E Equipment Services’s dividend payout ratio (DPR) is presently 29.97%.
Insider Activity at H&E Equipment Services
In related news, Director Gary W. Bagley sold 6,958 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $40.11, for a total value of $279,085.38. Following the transaction, the director now owns 78,559 shares of the company’s stock, valued at $3,151,001.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.50% of the stock is currently owned by corporate insiders.
H&E Equipment Services Company Profile
H&E Equipment Services, Inc operates as an integrated equipment services company. The company operates in five segments: Equipment Rentals, Used Equipment Sales, New Equipment Sales, Parts Sales, and Repair and Maintenance Services. The Equipment Rentals segment provides construction and industrial equipment for rent on a daily, weekly, and monthly basis through a fleet of approximately 42,725 pieces of equipment.
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