Dudley & Shanley Inc. Increases Stake in HEICO Co. (NYSE:HEI)

Dudley & Shanley Inc. raised its position in shares of HEICO Co. (NYSE:HEI) by 24.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 18,400 shares of the aerospace company’s stock after purchasing an additional 3,560 shares during the quarter. HEICO accounts for about 0.6% of Dudley & Shanley Inc.’s holdings, making the stock its 26th biggest holding. Dudley & Shanley Inc.’s holdings in HEICO were worth $3,514,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Zeno Equity Partners LLP purchased a new position in shares of HEICO in the fourth quarter worth approximately $25,000. Psagot Value Holdings Ltd. Israel purchased a new position in HEICO during the fourth quarter valued at approximately $70,000. Beaumont Financial Advisors LLC purchased a new position in HEICO during the fourth quarter valued at approximately $200,000. Sequoia Financial Advisors LLC purchased a new position in HEICO during the fourth quarter valued at approximately $202,000. Finally, Anchor Investment Management LLC purchased a new position in HEICO during the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Wall Street Analyst Weigh In

HEI has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of HEICO from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $178.00 to $225.00 in a research report on Tuesday, June 4th. Bank of America increased their target price on shares of HEICO from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Stifel Nicolaus increased their target price on shares of HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Benchmark increased their target price on shares of HEICO from $185.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Finally, Truist Financial restated a “buy” rating and issued a $240.00 price target (up from $229.00) on shares of HEICO in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.00.

HEICO Trading Up 1.7 %

HEI traded up $3.90 on Wednesday, hitting $228.03. The company had a trading volume of 304,546 shares, compared to its average volume of 381,929. The firm has a market cap of $31.58 billion, a P/E ratio of 70.48, a PEG ratio of 3.29 and a beta of 1.20. HEICO Co. has a 1 year low of $155.42 and a 1 year high of $232.02. The company’s fifty day moving average price is $218.21 and its 200 day moving average price is $197.52. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69.

HEICO (NYSE:HEI) last announced its quarterly earnings data on Tuesday, May 28th. The aerospace company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The business had revenue of $955.40 million during the quarter, compared to the consensus estimate of $951.24 million. During the same period in the previous year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. As a group, equities analysts expect that HEICO Co. will post 3.56 earnings per share for the current year.

HEICO Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.11 dividend. This represents a yield of 0.1%. This is an increase from HEICO’s previous Semi-Annual dividend of $0.07. The ex-dividend date is Monday, July 1st. HEICO’s dividend payout ratio is 6.29%.

Insider Activity at HEICO

In related news, insider Eric A. Mendelson sold 2,832 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the completion of the transaction, the insider now directly owns 246,060 shares of the company’s stock, valued at $44,305,563.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.10% of the stock is currently owned by corporate insiders.

About HEICO

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.