Norges Bank Takes $5.11 Million Position in H&E Equipment Services, Inc. (NASDAQ:HEES)

Norges Bank acquired a new stake in H&E Equipment Services, Inc. (NASDAQ:HEES) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 104,391 shares of the industrial products company’s stock, valued at approximately $5,111,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its position in shares of H&E Equipment Services by 2.4% during the 4th quarter. Jones Financial Companies Lllp now owns 12,280 shares of the industrial products company’s stock valued at $601,000 after purchasing an additional 282 shares in the last quarter. Swiss National Bank grew its position in H&E Equipment Services by 0.6% during the fourth quarter. Swiss National Bank now owns 64,600 shares of the industrial products company’s stock worth $3,163,000 after buying an additional 400 shares in the last quarter. Diversified Trust Co grew its position 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 worth $520,000 after buying an additional 574 shares in the last quarter. Rhumbline Advisers increased its stake in H&E Equipment Services by 1.7% in the 4th quarter. Rhumbline Advisers now owns 45,678 shares of the industrial products company’s stock worth $2,236,000 after acquiring an additional 745 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of H&E Equipment Services by 15.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,108 shares of the industrial products company’s stock valued at $299,000 after acquiring an additional 799 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors.

H&E Equipment Services Stock Up 2.9 %

Shares of NASDAQ HEES opened at $93.64 on Thursday. The stock has a market capitalization of $3.43 billion, a P/E ratio of 23.77 and a beta of 1.74. 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 one year low of $40.93 and a one year high of $101.28. The firm’s 50 day simple moving average is $93.36 and its two-hundred day simple moving average is $70.59.

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

H&E Equipment Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Tuesday, February 18th. H&E Equipment Services’s payout ratio is 32.64%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HEES shares. UBS Group reissued a “neutral” rating and set a $92.00 price objective (up previously from $60.00) on shares of H&E Equipment Services in a report on Friday, January 17th. StockNews.com started coverage on shares of H&E Equipment Services in a report on Sunday. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.