Corebridge Financial Inc. Trims Stock Holdings in H&E Equipment Services, Inc. (NASDAQ:HEES)

Corebridge Financial Inc. cut its holdings in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,040 shares of the industrial products company’s stock after selling 1,211 shares during the period. Corebridge Financial Inc.’s holdings in H&E Equipment Services were worth $785,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HEES. Wilmington Savings Fund Society FSB acquired a new stake in H&E Equipment Services during the 3rd quarter worth $288,000. Commonwealth Equity Services LLC increased its stake in H&E Equipment Services by 15.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,108 shares of the industrial products company’s stock valued at $299,000 after purchasing an additional 799 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of H&E Equipment Services in the fourth quarter valued at about $313,000. Handelsbanken Fonder AB boosted its stake in shares of H&E Equipment Services by 17.7% during the fourth quarter. Handelsbanken Fonder AB now owns 6,637 shares of the industrial products company’s stock worth $325,000 after buying an additional 1,000 shares during the period. Finally, Jennison Associates LLC purchased a new position in shares of H&E Equipment Services during the fourth quarter worth about $498,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HEES has been the subject of several analyst reports. StockNews.com assumed coverage on H&E Equipment Services in a research note on Sunday. They set a “hold” rating for the company. UBS Group restated a “neutral” rating and set a $92.00 price target (up previously from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, H&E Equipment Services has an average rating of “Hold” and an average target price of $71.33.

H&E Equipment Services Trading Down 1.2 %

Shares of H&E Equipment Services stock opened at $93.08 on Monday. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 23.62 and a beta of 1.74. H&E Equipment Services, Inc. has a 52-week low of $40.93 and a 52-week high of $101.28. The company’s 50-day simple moving average is $92.98 and its 200-day simple moving average is $69.35. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09.

H&E Equipment Services (NASDAQ:HEES) last released its earnings results on Friday, February 21st. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.18. The company had revenue of $384.08 million for the quarter, compared to analysts’ expectations of $372.50 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. As a group, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.18%. The ex-dividend date was Tuesday, February 18th. H&E Equipment Services’s payout ratio is 32.64%.

H&E Equipment Services 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.