abrdn plc Purchases 16,681 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

abrdn plc boosted its holdings in H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 5.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 338,938 shares of the industrial products company's stock after purchasing an additional 16,681 shares during the quarter. abrdn plc owned about 0.93% of H&E Equipment Services worth $16,500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in H&E Equipment Services during the 2nd quarter valued at about $37,000. CWM LLC increased its position in shares of H&E Equipment Services by 42.5% during the second quarter. CWM LLC now owns 932 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 278 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in H&E Equipment Services in the 1st quarter worth approximately $62,000. Meeder Asset Management Inc. purchased a new position in H&E Equipment Services in the 2nd quarter worth approximately $65,000. Finally, Quest Partners LLC bought a new position in H&E Equipment Services in the 2nd quarter valued at approximately $109,000. Institutional investors own 84.08% of the company's stock.

Wall Street Analyst Weigh In

HEES has been the subject of a number of research analyst reports. UBS Group reduced their target price on H&E Equipment Services from $63.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, August 14th. KeyCorp assumed coverage on H&E Equipment Services in a research report on Friday, August 9th. They issued a "sector weight" rating for the company. B. Riley reaffirmed a "buy" rating and set a $60.00 price target (down previously from $62.00) on shares of H&E Equipment Services in a report on Wednesday. Finally, Stifel Nicolaus decreased their price objective on shares of H&E Equipment Services from $65.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $61.25.

H&E Equipment Services Stock Performance

NASDAQ:HEES traded down $0.35 on Friday, hitting $51.90. The stock had a trading volume of 288,676 shares, compared to its average volume of 272,765. The business's 50-day simple moving average is $49.06 and its two-hundred day simple moving average is $48.37. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 12.09 and a beta of 1.84. H&E Equipment Services, Inc. has a 52-week low of $40.92 and a 52-week high of $66.18. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 2.09.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.00 by ($0.15). H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The business had revenue of $384.86 million during the quarter, compared to analysts' expectations of $388.18 million. During the same period in the previous year, the business posted $1.46 EPS. The business's quarterly revenue was down 4.0% compared to the same quarter last year. As a group, research analysts predict that H&E Equipment Services, Inc. will post 3.34 earnings per share for the current year.

H&E Equipment Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a $0.275 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $1.10 annualized dividend and a dividend yield of 2.12%. H&E Equipment Services's dividend payout ratio (DPR) is 27.92%.

H&E Equipment Services Profile

H&E Equipment Services, Inc operates as an integrated equipment services company in the United States. The company operates in five segments: Equipment Rentals, Sales of Rental Equipment, Sales of New Equipment, Parts Sales, and Repair and Maintenance Services. The Equipment Rentals segment provides construction and industrial equipment for rent on a daily, weekly, and monthly basis.