H&E Equipment Services (NASDAQ:HEES) Sees Strong Trading Volume – What’s Next?

H&E Equipment Services, Inc. (NASDAQ:HEES) shares saw unusually-strong trading volume on Wednesday . Approximately 2,090,155 shares changed hands during mid-day trading, an increase of 14% from the previous session’s volume of 1,835,717 shares.The stock last traded at $89.54 and had previously closed at $90.29.

Analyst Ratings Changes

A number of brokerages have recently commented on HEES. UBS Group reiterated a “neutral” rating and set a $92.00 price target (up previously from $60.00) on shares of H&E Equipment Services in a report on Friday. B. Riley reaffirmed a “buy” rating and set a $60.00 target price (down from $62.00) on shares of H&E Equipment Services in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $69.25.

H&E Equipment Services Price Performance

The firm has a market cap of $3.25 billion, a P/E ratio of 22.53, a P/E/G ratio of 8.97 and a beta of 1.88. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09. The business’s 50 day moving average is $56.26 and its two-hundred day moving average is $51.28.

H&E Equipment Services (NASDAQ:HEES) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.15). The business had revenue of $384.86 million during the quarter, compared to the consensus estimate of $388.18 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 earnings per share. As a group, analysts anticipate that H&E Equipment Services, Inc. will post 3.27 earnings per share for the current year.

H&E Equipment Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Friday, November 29th. H&E Equipment Services’s dividend payout ratio is presently 27.92%.

Institutional Investors Weigh In On H&E Equipment Services

Several hedge funds and other institutional investors have recently bought and sold shares of HEES. Federated Hermes Inc. increased its position in shares of H&E Equipment Services by 0.7% during the second quarter. Federated Hermes Inc. now owns 46,350 shares of the industrial products company’s stock worth $2,047,000 after acquiring an additional 326 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in H&E Equipment Services by 7.1% in the third quarter. Nisa Investment Advisors LLC now owns 8,380 shares of the industrial products company’s stock valued at $408,000 after acquiring an additional 555 shares during the last quarter. Diversified Trust Co grew its holdings in H&E Equipment Services by 5.7% during the fourth quarter. Diversified Trust Co now owns 10,615 shares of the industrial products company’s stock valued at $520,000 after purchasing an additional 574 shares during the period. The Manufacturers Life Insurance Company increased its holdings in H&E Equipment Services by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,343 shares of the industrial products company’s stock worth $810,000 after acquiring an additional 627 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in shares of H&E Equipment Services by 0.7% in the third quarter. Segall Bryant & Hamill LLC now owns 100,566 shares of the industrial products company’s stock valued at $4,896,000 after purchasing an additional 664 shares during the period. 84.08% of the stock is owned by institutional investors.

H&E Equipment Services Company Profile

H&E Equipment Services, Inc engages in the provision of equipment services, which focus on heavy construction and industrial equipment. It operates through the following segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Services. The Equipment Rentals segment focuses on renting construction and industrial equipment.