H&E Equipment Services, Inc. (NASDAQ:HEES) Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 248,513 shares of the industrial products company's stock after selling 7,273 shares during the period. Bank of New York Mellon Corp owned about 0.68% of H&E Equipment Services worth $12,167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HEES. Diversified Trust Co lifted its stake in shares of H&E Equipment Services by 5.7% during the 4th quarter. Diversified Trust Co now owns 10,615 shares of the industrial products company's stock worth $520,000 after purchasing an additional 574 shares during the period. Segall Bryant & Hamill LLC increased its stake in H&E Equipment Services by 0.7% in the third quarter. Segall Bryant & Hamill LLC now owns 100,566 shares of the industrial products company's stock valued at $4,896,000 after purchasing an additional 664 shares during the last quarter. Rhumbline Advisers lifted its position in H&E Equipment Services by 1.7% during the fourth quarter. Rhumbline Advisers now owns 45,678 shares of the industrial products company's stock worth $2,236,000 after buying an additional 745 shares during the period. Handelsbanken Fonder AB boosted its stake in H&E Equipment Services by 17.7% in the 4th quarter. Handelsbanken Fonder AB now owns 6,637 shares of the industrial products company's stock worth $325,000 after buying an additional 1,000 shares during the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in H&E Equipment Services in the 3rd quarter valued at about $84,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

HEES has been the topic of several recent analyst reports. UBS Group reiterated a "neutral" rating and set a $92.00 price objective (up from $60.00) on shares of H&E Equipment Services in a report on Friday, January 17th. StockNews.com began coverage on shares of H&E Equipment Services in a research note on Thursday. They set a "hold" rating on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, H&E Equipment Services has a consensus rating of "Hold" and a consensus target price of $71.33.

H&E Equipment Services Stock Down 0.1 %

HEES traded down $0.12 during trading hours on Monday, reaching $93.89. 598,602 shares of the stock traded hands, compared to its average volume of 460,257. H&E Equipment Services, Inc. has a fifty-two week low of $40.93 and a fifty-two week high of $101.28. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 23.83 and a beta of 1.94. 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's fifty day simple moving average is $85.98 and its two-hundred day simple moving average is $64.07.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last announced its earnings results on Friday, February 21st. The industrial products company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.18. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The company had revenue of $384.08 million during the quarter, compared to the consensus estimate of $372.50 million. As a group, analysts forecast that H&E Equipment Services, Inc. will post 3.25 earnings per share for the current fiscal year.

H&E Equipment Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.275 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.10 annualized dividend and a yield of 1.17%. H&E Equipment Services's dividend payout ratio is presently 32.64%.

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.