New York State Common Retirement Fund Sells 10,924 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

New York State Common Retirement Fund lessened its position in H&E Equipment Services, Inc. (NASDAQ:HEES) by 6.5% during the fourth quarter, Holdings Channel reports. The fund owned 157,442 shares of the industrial products company’s stock after selling 10,924 shares during the period. New York State Common Retirement Fund’s holdings in H&E Equipment Services were worth $7,708,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning bought a new position in H&E Equipment Services during the third quarter valued at approximately $254,000. Nisa Investment Advisors LLC boosted its stake in shares of H&E Equipment Services by 7.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,380 shares of the industrial products company’s stock valued at $408,000 after purchasing an additional 555 shares in the last quarter. abrdn plc boosted its stake 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 in the last quarter. Americana Partners LLC purchased a new position in H&E Equipment Services in the 3rd quarter worth $283,000. Finally, KG&L Capital Management LLC purchased a new position in H&E Equipment Services in the 3rd quarter worth $542,000. Institutional investors own 84.08% of the company’s stock.

H&E Equipment Services Price Performance

HEES stock opened at $96.70 on Thursday. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 24.54 and a beta of 1.93. The firm’s 50-day moving average price is $74.26 and its two-hundred day moving average price is $59.67. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09. H&E Equipment Services, Inc. has a 12-month low of $40.92 and a 12-month high of $101.28.

H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings results on Friday, February 21st. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.18. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The company had revenue of $384.08 million for the quarter, compared to the consensus estimate of $372.50 million. As a group, equities analysts predict that H&E Equipment Services, Inc. will post 3.25 earnings per share for the current year.

H&E Equipment Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Tuesday, February 18th. H&E Equipment Services’s payout ratio is 32.64%.

Wall Street Analyst Weigh In

HEES has been the subject of several analyst reports. UBS Group restated a “neutral” rating and set a $92.00 price target (up from $60.00) on shares of H&E Equipment Services in a research report on Friday, January 17th. B. Riley restated a “buy” rating and set a $60.00 price target (down from $62.00) on shares of H&E Equipment Services in a research report on Wednesday, October 30th. Finally, StockNews.com began coverage on H&E Equipment Services in a research note on Tuesday. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $71.33.

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.