StockNews.com Initiates Coverage on H&E Equipment Services (NASDAQ:HEES)

StockNews.com began coverage on shares of H&E Equipment Services (NASDAQ:HEES - Free Report) in a research note issued to investors on Monday morning. The firm issued a hold rating on the industrial products company's stock.

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

H&E Equipment Services Stock Performance

HEES traded up $0.20 during trading on Monday, hitting $100.35. 1,233,721 shares of the stock were exchanged, compared to its average volume of 1,473,188. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09. H&E Equipment Services has a 1-year low of $40.92 and a 1-year high of $101.28. The stock has a fifty day moving average price of $70.84 and a two-hundred day moving average price of $58.10. The firm has a market capitalization of $3.67 billion, a P/E ratio of 25.47 and a beta of 1.93.

H&E Equipment Services Announces Dividend

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

Institutional Trading of H&E Equipment Services

Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. raised its position in H&E Equipment Services by 17.8% in the fourth quarter. Meeder Asset Management Inc. now owns 1,453 shares of the industrial products company's stock worth $71,000 after acquiring an additional 220 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of H&E Equipment Services during the 3rd quarter worth $84,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of H&E Equipment Services by 227.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,749 shares of the industrial products company's stock valued at $134,000 after purchasing an additional 1,910 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of H&E Equipment Services by 38.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,172 shares of the industrial products company's stock valued at $190,000 after purchasing an additional 1,166 shares during the period. Finally, L.M. Kohn & Company purchased a new stake in H&E Equipment Services during the third quarter worth about $217,000. 84.08% of the stock is owned by institutional investors and hedge funds.

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.