H&E Equipment Services (NASDAQ:HEES) Reaches New 1-Year High - Here's What Happened

H&E Equipment Services, Inc. (NASDAQ:HEES - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $90.66 and last traded at $90.49, with a volume of 3845987 shares trading hands. The stock had previously closed at $43.94.

Analysts Set New Price Targets

Separately, B. Riley restated 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, H&E Equipment Services presently has a consensus rating of "Moderate Buy" and an average target price of $61.25.

H&E Equipment Services Price Performance

The company's 50 day simple moving average is $55.65 and its 200-day simple moving average is $51.02. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 8.97 and a beta of 1.88. 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 (NASDAQ:HEES - Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.15). H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The firm had revenue of $384.86 million during the quarter, compared to analyst estimates of $388.18 million. During the same quarter in the previous year, the business posted $1.46 EPS. H&E Equipment Services's revenue was down 4.0% compared to the same quarter last year. On average, equities research analysts predict that H&E Equipment Services, Inc. will post 3.27 earnings per share for the current fiscal year.

H&E Equipment Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, November 29th. H&E Equipment Services's payout ratio is currently 27.92%.

Institutional Investors Weigh In On H&E Equipment Services

A number of institutional investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of H&E Equipment Services by 2.9% during the third quarter. State Street Corp now owns 779,075 shares of the industrial products company's stock valued at $37,925,000 after acquiring an additional 21,805 shares during the period. Geode Capital Management LLC boosted its stake in H&E Equipment Services by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 755,017 shares of the industrial products company's stock valued at $36,762,000 after purchasing an additional 4,226 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in H&E Equipment Services by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 571,947 shares of the industrial products company's stock worth $27,842,000 after acquiring an additional 41,749 shares during the period. abrdn plc grew its stake in shares of H&E Equipment Services by 5.2% in the 3rd quarter. abrdn plc now owns 338,938 shares of the industrial products company's stock worth $16,500,000 after purchasing an additional 16,681 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in H&E Equipment Services by 36.4% in the third quarter. Two Sigma Advisers LP now owns 237,785 shares of the industrial products company's stock worth $11,575,000 after buying an additional 63,500 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors.

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.