H&E Equipment Services (NASDAQ:HEES) Reaches New 12-Month High – Here’s Why

H&E Equipment Services, Inc. (NASDAQ:HEES) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $90.66 and last traded at $90.49, with a volume of 3845987 shares. The stock had previously closed at $43.94.

Analyst Upgrades and Downgrades

Separately, B. Riley restated a “buy” rating and issued a $60.00 price target (down from $62.00) on shares of H&E Equipment Services in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.25.

H&E Equipment Services Price Performance

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 firm has a market capitalization of $3.26 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 8.97 and a beta of 1.88. The business has a 50-day moving average of $55.65 and a 200 day moving average of $51.02.

H&E Equipment Services (NASDAQ:HEES) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.15). The firm had revenue of $384.86 million for the quarter, compared to the consensus estimate of $388.18 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. H&E Equipment Services’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 EPS. As a group, research analysts anticipate that H&E Equipment Services, Inc. will post 3.27 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

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

Hedge Funds Weigh In On H&E Equipment Services

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp grew its stake in shares of H&E Equipment Services by 2.9% during the 3rd quarter. State Street Corp now owns 779,075 shares of the industrial products company’s stock worth $37,925,000 after acquiring an additional 21,805 shares during the period. Geode Capital Management LLC lifted its holdings in H&E Equipment Services by 0.6% during the third quarter. Geode Capital Management LLC now owns 755,017 shares of the industrial products company’s stock valued at $36,762,000 after purchasing an additional 4,226 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in H&E Equipment Services by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 571,947 shares of the industrial products company’s stock worth $27,842,000 after purchasing an additional 41,749 shares during the period. abrdn plc increased its stake in shares of H&E Equipment Services by 5.2% in the third quarter. abrdn plc now owns 338,938 shares of the industrial products company’s stock worth $16,500,000 after purchasing an additional 16,681 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of H&E Equipment Services by 36.4% in the third quarter. Two Sigma Advisers LP now owns 237,785 shares of the industrial products company’s stock valued at $11,575,000 after purchasing an additional 63,500 shares during the period. 84.08% of the stock is owned by institutional investors.

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.