StockNews.com Initiates Coverage on H&E Equipment Services (NASDAQ:HEES)

StockNews.com assumed coverage on shares of H&E Equipment Services (NASDAQ:HEES) in a research note issued to investors on Sunday. The brokerage issued a hold rating on the industrial products company’s stock.

Several other equities research analysts have also recently commented on the stock. B. Riley reiterated a “buy” rating and issued a $60.00 price target (down from $62.00) on shares of H&E Equipment Services in a research report on Wednesday, October 30th. UBS Group reiterated a “neutral” rating and issued a $92.00 target price (up from $60.00) on shares of H&E Equipment Services in a report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $69.25.

H&E Equipment Services Stock Up 0.1 %

Shares of HEES stock opened at $86.86 on Friday. H&E Equipment Services has a 1 year low of $40.92 and a 1 year high of $90.66. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.59 and a current ratio of 0.64. The business’s fifty day moving average is $66.30 and its 200-day moving average is $56.15. The stock has a market cap of $3.18 billion, a PE ratio of 22.05 and a beta of 1.93.

H&E Equipment Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.275 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.27%. H&E Equipment Services’s dividend payout ratio is currently 27.92%.

Hedge Funds Weigh In On H&E Equipment Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millburn Ridgefield Corp acquired a new stake in H&E Equipment Services during the 3rd quarter valued at $84,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of H&E Equipment Services by 227.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,749 shares of the industrial products company’s stock valued at $134,000 after buying an additional 1,910 shares in the last quarter. L.M. Kohn & Company acquired a new position in H&E Equipment Services during the third quarter valued at $217,000. Creative Planning purchased a new stake in H&E Equipment Services in the 3rd quarter worth about $254,000. Finally, Americana Partners LLC acquired a new stake in H&E Equipment Services during the 3rd quarter worth about $283,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

About H&E Equipment Services

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.