Norges Bank Makes New Investment in H&E Equipment Services, Inc. (NASDAQ:HEES)

Norges Bank purchased a new stake in H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 104,391 shares of the industrial products company's stock, valued at approximately $5,111,000. Norges Bank owned about 0.29% of H&E Equipment Services as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of H&E Equipment Services by 164.2% during the 4th quarter. JPMorgan Chase & Co. now owns 74,184 shares of the industrial products company's stock valued at $3,632,000 after acquiring an additional 46,105 shares in the last quarter. Banco BTG Pactual S.A. acquired a new stake in shares of H&E Equipment Services during the fourth quarter valued at about $338,000. EFG Asset Management North America Corp. grew its holdings in shares of H&E Equipment Services by 143.5% during the fourth quarter. EFG Asset Management North America Corp. now owns 50,484 shares of the industrial products company's stock worth $2,470,000 after purchasing an additional 29,750 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of H&E Equipment Services during the fourth quarter worth about $313,000. Finally, Sei Investments Co. acquired a new position in shares of H&E Equipment Services in the fourth quarter valued at approximately $5,853,000. Institutional investors and hedge funds own 84.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HEES shares. StockNews.com began coverage on shares of H&E Equipment Services in a research report on Monday. They set a "hold" rating on the stock. UBS Group reissued 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, H&E Equipment Services has a consensus rating of "Hold" and an average price target of $71.33.

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H&E Equipment Services Trading Down 0.2 %

H&E Equipment Services stock traded down $0.16 during mid-day trading on Tuesday, hitting $91.51. 41,692 shares of the stock were exchanged, compared to its average volume of 1,125,698. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 23.25 and a beta of 1.74. H&E Equipment Services, Inc. has a 12 month low of $40.92 and a 12 month high of $101.28. 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's fifty day simple moving average is $93.58 and its two-hundred day simple moving average is $71.67.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last released its earnings results on Friday, February 21st. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.18. The business had revenue of $384.08 million for the quarter, compared to analyst estimates of $372.50 million. H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. Analysts forecast that H&E Equipment Services, Inc. will post 3.25 EPS for the current year.

H&E Equipment Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.10 annualized dividend and a dividend yield of 1.20%. H&E Equipment Services's payout ratio is 32.64%.

H&E Equipment Services 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.