H&E Equipment Services (NASDAQ:HEES) Sees Large Volume Increase – Here’s What Happened

H&E Equipment Services, Inc. (NASDAQ:HEES) shares saw unusually-strong trading volume on Wednesday . Approximately 2,090,155 shares were traded during trading, an increase of 14% from the previous session’s volume of 1,835,717 shares.The stock last traded at $89.54 and had previously closed at $90.29.

Analyst Upgrades and Downgrades

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

H&E Equipment Services Price Performance

The company’s 50-day moving average is $55.04 and its two-hundred day moving average is $50.75. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.64 and a quick ratio of 0.59. The firm has a market cap of $3.26 billion, a P/E ratio of 22.63, a PEG ratio of 13.05 and a beta of 1.88.

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

H&E Equipment Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 1.23%. H&E Equipment Services’s dividend payout ratio is 27.92%.

Institutional Investors Weigh In On H&E Equipment Services

Several institutional investors and hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. raised its stake in H&E Equipment Services by 0.7% during the second quarter. Federated Hermes Inc. now owns 46,350 shares of the industrial products company’s stock worth $2,047,000 after acquiring an additional 326 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in H&E Equipment Services by 7.1% during the third quarter. Nisa Investment Advisors LLC now owns 8,380 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 555 shares in the last quarter. Diversified Trust Co raised its stake in H&E Equipment Services by 5.7% during the fourth quarter. Diversified Trust Co now owns 10,615 shares of the industrial products company’s stock worth $520,000 after acquiring an additional 574 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in H&E Equipment Services by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 18,343 shares of the industrial products company’s stock worth $810,000 after acquiring an additional 627 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its stake in H&E Equipment Services by 0.7% during the third quarter. Segall Bryant & Hamill LLC now owns 100,566 shares of the industrial products company’s stock worth $4,896,000 after acquiring an additional 664 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

H&E Equipment Services Company Profile

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.