H&E Equipment Services (NASDAQ:HEES) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of H&E Equipment Services (NASDAQ:HEES) in a report released on Saturday morning. The firm issued a hold rating on the industrial products company’s stock.

A number of other equities research analysts have also recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. UBS Group reaffirmed 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, H&E Equipment Services presently has a consensus rating of “Hold” and a consensus target price of $69.25.

H&E Equipment Services Price Performance

NASDAQ:HEES opened at $88.69 on Friday. The stock’s 50-day simple moving average is $62.93 and its 200 day simple moving average is $54.65. H&E Equipment Services has a 52-week low of $40.92 and a 52-week high of $90.66. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.59 and a current ratio of 0.64. The company has a market cap of $3.25 billion, a P/E ratio of 22.51 and a beta of 1.88.

H&E Equipment Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Friday, November 29th. H&E Equipment Services’s dividend payout ratio is 27.92%.

Hedge Funds Weigh In On H&E Equipment Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its holdings in shares of H&E Equipment Services by 420.5% during the 2nd quarter. Renaissance Technologies LLC now owns 33,832 shares of the industrial products company’s stock worth $1,494,000 after buying an additional 27,332 shares during the period. Squarepoint Ops LLC acquired a new stake in H&E Equipment Services during the second quarter worth approximately $612,000. Millennium Management LLC boosted its holdings in shares of H&E Equipment Services by 200.6% during the second quarter. Millennium Management LLC now owns 133,554 shares of the industrial products company’s stock worth $5,899,000 after acquiring an additional 89,128 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of H&E Equipment Services by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 18,343 shares of the industrial products company’s stock valued at $810,000 after purchasing an additional 627 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of H&E Equipment Services by 43.8% during the second quarter. Point72 Asset Management L.P. now owns 4,600 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 1,400 shares during the period. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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.