H&E Equipment Services, Inc. (NASDAQ:HEES) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,442 shares of the industrial products company's stock after selling 10,924 shares during the period. New York State Common Retirement Fund owned about 0.43% of H&E Equipment Services worth $7,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Zone Wealth Advisors LLC purchased a new position in H&E Equipment Services in the 4th quarter worth $2,240,000. Rhumbline Advisers increased its position in shares of H&E Equipment Services by 1.7% in the fourth quarter. Rhumbline Advisers now owns 45,678 shares of the industrial products company's stock valued at $2,236,000 after buying an additional 745 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in H&E Equipment Services during the fourth quarter worth $28,780,000. Klein Pavlis & Peasley Financial Inc. raised its position in shares of H&E Equipment Services by 28.7% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 15,335 shares of the industrial products company's stock worth $751,000 after purchasing an additional 3,420 shares during the last quarter. Finally, abrdn plc lifted its position in shares of H&E Equipment Services by 4.0% in the fourth quarter. abrdn plc now owns 352,615 shares of the industrial products company's stock valued at $17,264,000 after acquiring an additional 13,677 shares in the last quarter. Institutional investors own 84.08% of the company's stock.

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Analyst Ratings Changes

HEES has been the topic of a number of research reports. StockNews.com began coverage on shares of H&E Equipment Services in a research note on Tuesday, February 25th. They issued a "hold" rating on the stock. UBS Group reissued a "neutral" rating and issued a $92.00 price target (up previously from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $71.33.

H&E Equipment Services Stock Down 0.1 %

NASDAQ HEES traded down $0.10 during trading hours on Friday, hitting $95.90. 394,749 shares of the company were exchanged, compared to its average volume of 1,350,745. The company has a 50 day moving average of $77.08 and a two-hundred day moving average of $60.65. 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 firm has a market cap of $3.51 billion, a price-to-earnings ratio of 24.34 and a beta of 1.93. H&E Equipment Services, Inc. has a 52-week low of $40.92 and a 52-week high of $101.28.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last issued 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. H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The firm had revenue of $384.08 million for the quarter, compared to analysts' expectations of $372.50 million. Equities research analysts anticipate that H&E Equipment Services, Inc. will post 3.25 earnings per share for the current year.

H&E Equipment Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were paid a dividend of $0.275 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.10 annualized dividend and a yield of 1.15%. H&E Equipment Services's dividend payout ratio is currently 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.