Wedge Capital Management L L P NC Purchases 5,731 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Wedge Capital Management L L P NC increased its position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,322 shares of the industrial products company’s stock after buying an additional 5,731 shares during the period. Wedge Capital Management L L P NC owned 0.23% of H&E Equipment Services worth $3,636,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Arizona State Retirement System grew its holdings in H&E Equipment Services by 3.9% in the 4th quarter. Arizona State Retirement System now owns 9,153 shares of the industrial products company’s stock valued at $479,000 after buying an additional 347 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of H&E Equipment Services by 12.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,618 shares of the industrial products company’s stock worth $556,000 after acquiring an additional 1,137 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its position in H&E Equipment Services by 94.6% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 113,603 shares of the industrial products company’s stock worth $5,944,000 after acquiring an additional 55,214 shares during the period. Foundry Partners LLC acquired a new position in H&E Equipment Services during the 4th quarter valued at $4,000,000. Finally, Semanteon Capital Management LP acquired a new position in H&E Equipment Services during the 4th quarter valued at $879,000. 84.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HEES has been the topic of several research analyst reports. UBS Group decreased their price target on shares of H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday. KeyCorp started coverage on H&E Equipment Services in a research note on Friday, August 9th. They set a “sector weight” rating on the stock. StockNews.com cut H&E Equipment Services from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Raymond James initiated coverage on H&E Equipment Services in a report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Stifel Nicolaus cut their target price on H&E Equipment Services from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, H&E Equipment Services currently has an average rating of “Moderate Buy” and an average price target of $61.67.

H&E Equipment Services Price Performance

HEES traded up $1.35 during midday trading on Thursday, reaching $45.99. 275,569 shares of the company’s stock were exchanged, compared to its average volume of 267,416. The company has a quick ratio of 0.62, a current ratio of 0.61 and a debt-to-equity ratio of 2.17. The business has a 50-day simple moving average of $46.49 and a two-hundred day simple moving average of $52.22. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 9.98 and a beta of 1.89. H&E Equipment Services, Inc. has a one year low of $38.06 and a one year high of $66.18.

H&E Equipment Services (NASDAQ:HEES) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.91 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.12). H&E Equipment Services had a return on equity of 30.84% and a net margin of 10.53%. The company had revenue of $376.30 million for the quarter, compared to the consensus estimate of $382.05 million. During the same quarter last year, the business earned $1.14 EPS. H&E Equipment Services’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts predict that H&E Equipment Services, Inc. will post 3.73 EPS for the current year.

H&E Equipment Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, August 28th. H&E Equipment Services’s payout ratio is 23.55%.

H&E Equipment Services Profile

H&E Equipment Services, Inc operates as an integrated equipment services company in the United States. The company operates in five segments: Equipment Rentals, Sales of Rental Equipment, Sales of New Equipment, Parts Sales, and Repair and Maintenance Services. The Equipment Rentals segment provides construction and industrial equipment for rent on a daily, weekly, and monthly basis.