Bridgewater Associates LP Purchases New Shares in H&E Equipment Services, Inc. (NASDAQ:HEES)

Bridgewater Associates LP purchased a new position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 71,671 shares of the industrial products company's stock, valued at approximately $3,489,000. Bridgewater Associates LP owned about 0.20% of H&E Equipment Services as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. American Century Companies Inc. increased its position in H&E Equipment Services by 104.6% during the second quarter. American Century Companies Inc. now owns 1,410,554 shares of the industrial products company's stock worth $62,304,000 after buying an additional 721,270 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in H&E Equipment Services by 7.9% during the 3rd 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 in the last quarter. abrdn plc raised its stake in H&E Equipment Services by 5.2% in the 3rd quarter. abrdn plc now owns 338,938 shares of the industrial products company's stock valued at $16,500,000 after purchasing an additional 16,681 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in H&E Equipment Services by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 275,363 shares of the industrial products company's stock valued at $12,163,000 after purchasing an additional 770 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of H&E Equipment Services by 8.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 199,074 shares of the industrial products company's stock worth $8,793,000 after purchasing an additional 16,342 shares during the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on HEES shares. B. Riley reissued 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. KeyCorp started coverage on H&E Equipment Services in a research report on Friday, August 9th. They issued a "sector weight" rating for the company. Finally, UBS Group reduced their target price on H&E Equipment Services from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, H&E Equipment Services presently has a consensus rating of "Moderate Buy" and an average price target of $61.25.

H&E Equipment Services Trading Up 1.2 %

Shares of HEES traded up $0.68 during trading hours on Friday, hitting $59.74. The stock had a trading volume of 87,475 shares, compared to its average volume of 241,205. H&E Equipment Services, Inc. has a 12-month low of $40.92 and a 12-month high of $66.18. The firm has a market cap of $2.19 billion, a P/E ratio of 15.16, a P/E/G ratio of 13.64 and a beta of 1.82. 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's fifty day simple moving average is $53.95 and its 200 day simple moving average is $49.10.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $388.18 million. During the same quarter last year, the business earned $1.46 earnings per share. The business's revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts forecast that H&E Equipment Services, Inc. will post 3.34 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a yield of 1.84%. H&E Equipment Services's dividend payout ratio (DPR) is 27.92%.

H&E Equipment Services Company 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.