Short Interest in H&E Equipment Services, Inc. (NASDAQ:HEES) Rises By 142.1%

H&E Equipment Services, Inc. (NASDAQ:HEES - Get Free Report) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 3,220,000 shares, an increase of 142.1% from the January 15th total of 1,330,000 shares. Based on an average daily volume of 729,700 shares, the days-to-cover ratio is presently 4.4 days. Currently, 10.1% of the shares of the company are short sold.

Hedge Funds Weigh In On H&E Equipment Services

Hedge funds have recently made changes to their positions in the business. Access Financial Services Inc. grew its stake in shares of H&E Equipment Services by 20.4% in the 4th quarter. Access Financial Services Inc. now owns 20,976 shares of the industrial products company's stock worth $1,027,000 after purchasing an additional 3,555 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of H&E Equipment Services by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 755,017 shares of the industrial products company's stock worth $36,762,000 after purchasing an additional 4,226 shares during the last quarter. KG&L Capital Management LLC acquired a new position in shares of H&E Equipment Services in the 3rd quarter worth approximately $542,000. State Street Corp grew its stake in shares of H&E Equipment Services by 2.9% in the 3rd quarter. State Street Corp now owns 779,075 shares of the industrial products company's stock worth $37,925,000 after purchasing an additional 21,805 shares during the last quarter. Finally, Jade Capital Advisors LLC acquired a new position in shares of H&E Equipment Services in the 3rd quarter worth approximately $1,217,000. Institutional investors and hedge funds own 84.08% of the company's stock.

H&E Equipment Services Price Performance

H&E Equipment Services stock traded up $0.06 during trading hours on Friday, hitting $87.56. 779,912 shares of the company traded hands, compared to its average volume of 1,764,580. The firm has a market cap of $3.20 billion, a P/E ratio of 22.22 and a beta of 1.93. 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's 50-day simple moving average is $68.55 and its two-hundred day simple moving average is $57.14. H&E Equipment Services has a 1-year low of $40.92 and a 1-year high of $90.66.

H&E Equipment Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.10 annualized dividend and a dividend yield of 1.26%. H&E Equipment Services's dividend payout ratio is currently 27.92%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group reiterated a "neutral" rating and issued a $92.00 price objective (up from $60.00) on shares of H&E Equipment Services in a research report on Friday, January 17th. B. Riley reissued a "buy" rating and set a $60.00 target price (down previously from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. Finally, StockNews.com began coverage on shares of H&E Equipment Services in a research note on Sunday, February 9th. They set a "hold" rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $69.25.

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.