Point72 DIFC Ltd Sells 4,348 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Point72 DIFC Ltd trimmed its position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 75.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,451 shares of the industrial products company’s stock after selling 4,348 shares during the quarter. Point72 DIFC Ltd’s holdings in H&E Equipment Services were worth $71,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HEES. American Century Companies Inc. boosted its position in shares of H&E Equipment Services by 104.6% in the 2nd quarter. American Century Companies Inc. now owns 1,410,554 shares of the industrial products company’s stock worth $62,304,000 after purchasing an additional 721,270 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of H&E Equipment Services by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 571,947 shares of the industrial products company’s stock valued at $27,842,000 after purchasing an additional 41,749 shares in the last quarter. abrdn plc boosted its holdings in shares of H&E Equipment Services by 5.2% during the 3rd quarter. abrdn plc now owns 338,938 shares of the industrial products company’s stock valued at $16,500,000 after acquiring an additional 16,681 shares during the last quarter. Bank of New York Mellon Corp lifted its position in H&E Equipment Services by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 275,363 shares of the industrial products company’s stock valued at $12,163,000 after purchasing an additional 770 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in H&E Equipment Services by 8.9% during the second quarter. Panagora Asset Management Inc. now owns 199,074 shares of the industrial products company’s stock valued at $8,793,000 after purchasing an additional 16,342 shares during the period. Institutional investors own 84.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HEES shares. B. Riley reiterated a “buy” rating and set a $60.00 target price (down from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. UBS Group lowered their target price on H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, H&E Equipment Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.25.

H&E Equipment Services Trading Down 0.2 %

NASDAQ:HEES opened at $59.86 on Tuesday. H&E Equipment Services, Inc. has a one year low of $40.92 and a one year high of $66.18. The business has a fifty day moving average price of $55.31 and a 200-day moving average price of $49.56. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 13.70 and a beta of 1.84. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.64 and a quick ratio of 0.59.

H&E Equipment Services (NASDAQ:HEES) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.15). H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The company had revenue of $384.86 million for the quarter, compared to the consensus estimate of $388.18 million. During the same period in the prior year, the firm posted $1.46 EPS. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Sell-side analysts forecast that H&E Equipment Services, Inc. will post 3.34 EPS for the current year.

H&E Equipment Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, November 29th. H&E Equipment Services’s payout ratio is 27.92%.

About H&E Equipment Services

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.