H&E Equipment Services, Inc. (NASDAQ:HEES) Position Raised by abrdn plc

abrdn plc increased its position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 352,615 shares of the industrial products company's stock after purchasing an additional 13,677 shares during the quarter. abrdn plc owned 0.96% of H&E Equipment Services worth $17,264,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Millburn Ridgefield Corp purchased a new stake in H&E Equipment Services during the third quarter valued at about $84,000. Point72 Asia Singapore Pte. Ltd. grew its position in H&E Equipment Services by 227.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,749 shares of the industrial products company's stock valued at $134,000 after acquiring an additional 1,910 shares during the period. L.M. Kohn & Company acquired a new position in shares of H&E Equipment Services during the third quarter worth about $217,000. Creative Planning acquired a new position in shares of H&E Equipment Services during the third quarter worth about $254,000. Finally, Americana Partners LLC acquired a new position in shares of H&E Equipment Services during the third quarter worth about $283,000. Hedge funds and other institutional investors own 84.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on HEES shares. B. Riley restated 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. StockNews.com assumed coverage on H&E Equipment Services in a research note on Sunday. They issued a "hold" rating on the stock. Finally, UBS Group reiterated a "neutral" rating and issued a $92.00 price target (up previously from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $69.25.

H&E Equipment Services Stock Down 0.2 %

NASDAQ HEES traded down $0.21 on Monday, hitting $87.19. 259,640 shares of the stock traded hands, compared to its average volume of 1,437,041. The stock has a 50-day moving average of $65.73 and a 200 day moving average of $55.88. H&E Equipment Services, Inc. has a twelve month low of $40.92 and a twelve month high of $90.66. The company has a market capitalization of $3.19 billion, a P/E ratio of 22.13 and a beta of 1.93. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09.

H&E Equipment Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.26%. H&E Equipment Services's dividend payout ratio (DPR) is presently 27.92%.

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.