H&E Equipment Services (NASDAQ:HEES) Sees Strong Trading Volume - Still a Buy?

Shares of H&E Equipment Services, Inc. (NASDAQ:HEES - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 2,090,155 shares changed hands during mid-day trading, an increase of 14% from the previous session's volume of 1,835,717 shares.The stock last traded at $89.54 and had previously closed at $90.29.

Wall Street Analysts Forecast Growth

Separately, B. Riley restated 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $61.25.

H&E Equipment Services Stock Down 1.4 %

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 stock's 50-day simple moving average is $55.65 and its 200 day simple moving average is $51.02. The firm has a market cap of $3.26 billion, a P/E ratio of 22.59, a PEG ratio of 13.05 and a beta of 1.88.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.15). The business had revenue of $384.86 million for the quarter, compared to the consensus estimate of $388.18 million. H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 EPS. As a group, research analysts forecast that H&E Equipment Services, Inc. will post 3.27 EPS for the current fiscal year.

H&E Equipment Services Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake in H&E Equipment Services by 2.9% in the third quarter. State Street Corp now owns 779,075 shares of the industrial products company's stock valued at $37,925,000 after purchasing an additional 21,805 shares in the last quarter. Geode Capital Management LLC increased its position in 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 valued at $36,762,000 after buying an additional 4,226 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in H&E Equipment Services by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 571,947 shares of the industrial products company's stock valued at $27,842,000 after buying an additional 41,749 shares in the last quarter. abrdn plc raised its stake in H&E Equipment Services by 5.2% during the 3rd quarter. abrdn plc now owns 338,938 shares of the industrial products company's stock worth $16,500,000 after buying an additional 16,681 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings 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 acquiring an additional 63,500 shares in the last quarter. 84.08% of the stock is owned by institutional investors.

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.