H&E Equipment Services, Inc. (NASDAQ:HEES) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 164.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,184 shares of the industrial products company's stock after purchasing an additional 46,105 shares during the quarter. JPMorgan Chase & Co. owned about 0.20% of H&E Equipment Services worth $3,632,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in HEES. American Century Companies Inc. lifted its position in shares of H&E Equipment Services by 17.2% during the 4th quarter. American Century Companies Inc. now owns 2,134,252 shares of the industrial products company's stock worth $104,493,000 after buying an additional 313,880 shares during the last quarter. Geode Capital Management LLC raised 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 worth $36,762,000 after acquiring an additional 4,226 shares in the last quarter. Victory Capital Management Inc. lifted its position in H&E Equipment Services by 1,238.8% in the fourth quarter. Victory Capital Management Inc. now owns 689,911 shares of the industrial products company's stock valued at $33,778,000 after acquiring an additional 638,379 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in H&E Equipment Services in the fourth quarter valued at $28,780,000. Finally, abrdn plc grew its holdings in shares of H&E Equipment Services by 4.0% during the fourth quarter. abrdn plc now owns 352,615 shares of the industrial products company's stock worth $17,264,000 after purchasing an additional 13,677 shares during the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HEES has been the subject of several research reports. StockNews.com began coverage on H&E Equipment Services in a report on Tuesday. They issued a "hold" rating for the company. UBS Group reiterated a "neutral" rating and issued a $92.00 price objective (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 two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $71.33.

H&E Equipment Services Stock Performance

Shares of NASDAQ HEES traded up $0.59 during midday trading on Thursday, reaching $90.56. 389,166 shares of the company were exchanged, compared to its average volume of 538,773. The stock has a market cap of $3.32 billion, a P/E ratio of 22.96 and a beta of 1.74. H&E Equipment Services, Inc. has a 1 year low of $40.93 and a 1 year high of $101.28. The stock has a fifty day simple moving average of $93.99 and a 200 day simple moving average of $73.34. 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 announced its earnings results on Friday, February 21st. The industrial products company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.18. The company had revenue of $384.08 million for the quarter, compared to the consensus estimate of $372.50 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. On average, research analysts forecast that H&E Equipment Services, Inc. will post 3.25 earnings per share for the current fiscal year.

H&E Equipment Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were given a $0.275 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.10 dividend on an annualized basis and a yield of 1.21%. H&E Equipment Services's dividend payout ratio (DPR) is 32.64%.

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.