Access Financial Services Inc. Purchases New Holdings in H&E Equipment Services, Inc. (NASDAQ:HEES)

Access Financial Services Inc. purchased a new position in H&E Equipment Services, Inc. (NASDAQ:HEES) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 21,673 shares of the industrial products company’s stock, valued at approximately $957,000. Access Financial Services Inc. owned 0.06% of H&E Equipment Services at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Summit Global Investments boosted its position in H&E Equipment Services by 10.2% during the 2nd quarter. Summit Global Investments now owns 23,464 shares of the industrial products company’s stock valued at $1,036,000 after acquiring an additional 2,168 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of H&E Equipment Services by 7.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 82,322 shares of the industrial products company’s stock worth $3,636,000 after purchasing an additional 5,731 shares in the last quarter. Diversified Trust Co increased its stake in shares of H&E Equipment Services by 5.3% in the 2nd quarter. Diversified Trust Co now owns 10,027 shares of the industrial products company’s stock worth $443,000 after purchasing an additional 503 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of H&E Equipment Services by 688.1% in the 2nd quarter. SG Americas Securities LLC now owns 20,862 shares of the industrial products company’s stock worth $921,000 after purchasing an additional 18,215 shares in the last quarter. Finally, CWM LLC boosted its holdings in H&E Equipment Services by 42.5% in the 2nd quarter. CWM LLC now owns 932 shares of the industrial products company’s stock worth $41,000 after buying an additional 278 shares during the period. Institutional investors own 84.08% of the company’s stock.

H&E Equipment Services Stock Up 4.6 %

Shares of NASDAQ:HEES traded up $2.15 during trading hours on Friday, reaching $48.55. The stock had a trading volume of 214,342 shares, compared to its average volume of 265,969. H&E Equipment Services, Inc. has a 1 year low of $38.06 and a 1 year high of $66.18. The firm’s 50 day moving average is $46.76 and its 200-day moving average is $51.84. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.62 and a current ratio of 0.61. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 9.98 and a beta of 1.89.

H&E Equipment Services (NASDAQ:HEES) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.12). H&E Equipment Services had a net margin of 10.53% and a return on equity of 30.84%. The business had revenue of $376.30 million for the quarter, compared to analysts’ expectations of $382.05 million. During the same quarter last year, the business posted $1.14 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Research analysts predict that H&E Equipment Services, Inc. will post 3.73 earnings per share for the current fiscal year.

H&E Equipment Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, August 28th. H&E Equipment Services’s dividend payout ratio is currently 23.55%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Raymond James initiated coverage on shares of H&E Equipment Services in a report on Friday, June 28th. They set a “market perform” rating for the company. StockNews.com lowered shares of H&E Equipment Services from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. UBS Group cut their price objective on shares of H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Stifel Nicolaus cut their price objective on shares of H&E Equipment Services from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, KeyCorp initiated coverage on shares of H&E Equipment Services in a research note on Friday, August 9th. They issued a “sector weight” rating for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

H&E Equipment Services Company Profile

H&E Equipment Services, Inc operates as an integrated equipment services company in the United States. The company operates in five segments: Equipment Rentals, Sales of Rental Equipment, Sales of New Equipment, 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.