LPL Financial LLC Cuts Position in H&E Equipment Services, Inc. (NASDAQ:HEES)

LPL Financial LLC cut its position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,426 shares of the industrial products company's stock after selling 4,399 shares during the period. LPL Financial LLC owned approximately 0.05% of H&E Equipment Services worth $902,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HEES. Wilmington Savings Fund Society FSB bought a new position in shares of H&E Equipment Services during the 3rd quarter valued at approximately $288,000. Commonwealth Equity Services LLC lifted its position in H&E Equipment Services by 15.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,108 shares of the industrial products company's stock valued at $299,000 after purchasing an additional 799 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in H&E Equipment Services during the fourth quarter valued at $313,000. Handelsbanken Fonder AB grew its stake in shares of H&E Equipment Services by 17.7% in the 4th quarter. Handelsbanken Fonder AB now owns 6,637 shares of the industrial products company's stock worth $325,000 after buying an additional 1,000 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of H&E Equipment Services in the 4th quarter worth about $498,000. Hedge funds and other institutional investors own 84.08% of the company's stock.

H&E Equipment Services Trading Up 0.8 %

Shares of HEES traded up $0.67 during mid-day trading on Wednesday, reaching $89.97. 596,923 shares of the company's stock traded hands, compared to its average volume of 538,062. H&E Equipment Services, Inc. has a 12 month low of $40.93 and a 12 month high of $101.28. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.64 and a quick ratio of 0.59. The stock has a market cap of $3.30 billion, a P/E ratio of 22.84 and a beta of 1.74. The stock's 50-day moving average is $93.94 and its two-hundred day moving average is $73.23.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last announced its quarterly earnings data on Friday, February 21st. The industrial products company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.81 by $0.18. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The company had revenue of $384.08 million for the quarter, compared to the consensus estimate of $372.50 million. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.10 dividend on an annualized basis and a yield of 1.22%. H&E Equipment Services's payout ratio is 32.64%.

Wall Street Analysts Forecast Growth

HEES has been the topic of several analyst reports. StockNews.com assumed coverage on H&E Equipment Services in a research note on Tuesday. They set a "hold" rating on the stock. UBS Group reissued 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 report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, H&E Equipment Services presently has an average rating of "Hold" and a consensus price target of $71.33.

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.