H&E Equipment Services, Inc. (NASDAQ:HEES) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,692 shares of the industrial products company’s stock after selling 408 shares during the period. Legal & General Group Plc’s holdings in H&E Equipment Services were worth $1,943,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in H&E Equipment Services by 1,238.8% in the fourth quarter. Victory Capital Management Inc. now owns 689,911 shares of the industrial products company’s stock valued at $33,778,000 after purchasing an additional 638,379 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of H&E Equipment Services during the 4th quarter valued at approximately $28,780,000. American Century Companies Inc. grew its position in shares of H&E Equipment Services by 17.2% during the fourth quarter. American Century Companies Inc. now owns 2,134,252 shares of the industrial products company’s stock worth $104,493,000 after buying an additional 313,880 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of H&E Equipment Services by 77.1% in the fourth quarter. Fisher Asset Management LLC now owns 348,656 shares of the industrial products company’s stock worth $17,070,000 after buying an additional 151,761 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in H&E Equipment Services in the fourth quarter valued at $5,853,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HEES. StockNews.com began coverage on shares of H&E Equipment Services in a research note on Tuesday. They issued a “hold” rating on the stock. UBS Group reissued 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. Four investment 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 company presently has a consensus rating of “Hold” and a consensus target price of $71.33.

H&E Equipment Services Stock Up 0.4 %

Shares of H&E Equipment Services stock opened at $90.30 on Friday. H&E Equipment Services, Inc. has a twelve month low of $40.93 and a twelve month high of $101.28. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 22.92 and a beta of 1.74. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09. The business’s 50 day simple moving average is $94.04 and its 200-day simple moving average is $73.62.

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 the consensus estimate of $0.81 by $0.18. The company had revenue of $384.08 million during the quarter, compared to the consensus estimate of $372.50 million. H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. Equities research analysts forecast that H&E Equipment Services, Inc. will post 3.25 earnings per share for the current year.

H&E Equipment Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were paid a $0.275 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.10 annualized dividend and a dividend yield of 1.22%. H&E Equipment Services’s payout ratio is currently 32.64%.

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.