Bridgewater Associates LP Takes Position in H&E Equipment Services, Inc. (NASDAQ:HEES)

Bridgewater Associates LP acquired a new position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 71,671 shares of the industrial products company’s stock, valued at approximately $3,489,000.

Several other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in shares of H&E Equipment Services by 104.6% in the second quarter. American Century Companies Inc. now owns 1,410,554 shares of the industrial products company’s stock worth $62,304,000 after buying an additional 721,270 shares during the period. Charles Schwab Investment Management Inc. grew its stake in H&E Equipment Services by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 571,947 shares of the industrial products company’s stock valued at $27,842,000 after acquiring an additional 41,749 shares in the last quarter. abrdn plc increased its holdings in shares of H&E Equipment Services by 5.2% in the 3rd quarter. abrdn plc now owns 338,938 shares of the industrial products company’s stock valued at $16,500,000 after purchasing an additional 16,681 shares during the period. Bank of New York Mellon Corp lifted its position in shares of H&E Equipment Services by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 275,363 shares of the industrial products company’s stock worth $12,163,000 after purchasing an additional 770 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in shares of H&E Equipment Services by 8.9% during the second quarter. Panagora Asset Management Inc. now owns 199,074 shares of the industrial products company’s stock worth $8,793,000 after purchasing an additional 16,342 shares during the period. 84.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HEES has been the subject of a number of research analyst reports. B. Riley reiterated 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 report on Wednesday, October 30th. KeyCorp started coverage on H&E Equipment Services in a report on Friday, August 9th. They set a “sector weight” rating for the company. Finally, UBS Group lowered their target price on H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.25.

H&E Equipment Services Stock Performance

NASDAQ HEES opened at $59.74 on Friday. The company’s fifty day moving average is $53.95 and its two-hundred day moving average is $49.10. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 13.55 and a beta of 1.82. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.64 and a quick ratio of 0.59. H&E Equipment Services, Inc. has a 52-week low of $40.92 and a 52-week high of $66.18.

H&E Equipment Services (NASDAQ:HEES) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $384.86 million for the quarter, compared to the consensus estimate of $388.18 million. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. Equities research analysts forecast that H&E Equipment Services, Inc. will post 3.34 EPS for the current year.

H&E Equipment Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.275 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.84%. H&E Equipment Services’s payout ratio is 27.92%.

About H&E Equipment Services

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.