Victory Capital Management Inc. Grows Stock Position in H&E Equipment Services, Inc. (NASDAQ:HEES)

Victory Capital Management Inc. increased its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 409.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,532 shares of the industrial products company's stock after buying an additional 41,412 shares during the quarter. Victory Capital Management Inc. owned about 0.14% of H&E Equipment Services worth $2,509,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of H&E Equipment Services in the 2nd quarter valued at $37,000. CWM LLC raised its stake in shares of H&E Equipment Services by 42.5% during the 2nd quarter. CWM LLC now owns 932 shares of the industrial products company's stock valued at $41,000 after buying an additional 278 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of H&E Equipment Services in the 2nd quarter valued at about $65,000. Quest Partners LLC purchased a new stake in shares of H&E Equipment Services in the second quarter worth about $109,000. Finally, Bailard Inc. acquired a new stake in H&E Equipment Services during the second quarter worth about $203,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group decreased their price target on H&E Equipment Services from $63.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, August 14th. B. Riley reiterated a "buy" rating and issued a $60.00 target price (down from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their price target on shares of H&E Equipment Services from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Finally, KeyCorp initiated coverage on shares of H&E Equipment Services in a report on Friday, August 9th. They issued a "sector weight" rating for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, H&E Equipment Services has an average rating of "Moderate Buy" and a consensus target price of $61.25.

H&E Equipment Services Price Performance

NASDAQ:HEES traded up $2.08 during trading hours on Friday, reaching $58.76. 235,704 shares of the company were exchanged, compared to its average volume of 305,839. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09. The firm has a market cap of $2.15 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 12.94 and a beta of 1.82. H&E Equipment Services, Inc. has a twelve month low of $40.92 and a twelve month high of $66.18. The stock's 50-day moving average is $52.64 and its 200-day moving average is $48.72.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last released its quarterly earnings results 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 company had revenue of $384.86 million for the quarter, compared to analyst estimates of $388.18 million. During the same quarter last year, the company earned $1.46 EPS. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that H&E Equipment Services, Inc. will post 3.34 earnings per share for the current fiscal year.

H&E Equipment Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, November 29th. H&E Equipment Services's payout ratio is 27.92%.

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.