Clearbridge Investments LLC Sells 156,559 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Clearbridge Investments LLC reduced its position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 6.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,119,455 shares of the industrial products company's stock after selling 156,559 shares during the quarter. Clearbridge Investments LLC owned about 5.79% of H&E Equipment Services worth $103,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Millburn Ridgefield Corp acquired a new stake in shares of H&E Equipment Services during the 3rd quarter worth approximately $84,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in H&E Equipment Services by 227.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,749 shares of the industrial products company's stock worth $134,000 after acquiring an additional 1,910 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of H&E Equipment Services by 38.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,172 shares of the industrial products company's stock valued at $190,000 after acquiring an additional 1,166 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of H&E Equipment Services in the 3rd quarter valued at $288,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of H&E Equipment Services by 15.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,108 shares of the industrial products company's stock valued at $299,000 after purchasing an additional 799 shares during the period. 84.08% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group reaffirmed a "neutral" rating and set a $92.00 price objective (up from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. StockNews.com initiated coverage on H&E Equipment Services in a research report on Saturday, March 29th. They set a "hold" rating for the company. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $71.33.

H&E Equipment Services Trading Down 1.2 %

H&E Equipment Services stock traded down $1.09 during mid-day trading on Friday, hitting $93.08. 1,214,637 shares of the company's stock were exchanged, compared to its average volume of 496,511. The company's 50 day simple moving average is $92.98 and its 200-day simple moving average is $69.19. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $3.41 billion, a P/E ratio of 23.62 and a beta of 1.94. H&E Equipment Services, Inc. has a fifty-two week low of $40.93 and a fifty-two week high of $101.28.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The industrial products company reported $0.99 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $372.50 million. On average, equities analysts anticipate that H&E Equipment Services, Inc. will post 3.25 earnings per share for the current year.

H&E Equipment Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Tuesday, February 18th. H&E Equipment Services's dividend payout ratio (DPR) is presently 32.64%.

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.