Chicago Equity Partners LLC lowered its position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 47.1% in the second quarter, Holdings Channel reports. The fund owned 36,781 shares of the industrial products company’s stock after selling 32,799 shares during the quarter. Chicago Equity Partners LLC’s holdings in H&E Equipment Services were worth $1,383,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new position in shares of H&E Equipment Services during the first quarter valued at approximately $108,000. Element Capital Management LLC acquired a new position in shares of H&E Equipment Services during the first quarter valued at approximately $217,000. Xact Kapitalforvaltning AB acquired a new position in shares of H&E Equipment Services during the first quarter valued at approximately $236,000. Bank of Montreal Can acquired a new position in shares of H&E Equipment Services during the second quarter valued at approximately $265,000. Finally, WINTON GROUP Ltd acquired a new position in shares of H&E Equipment Services during the first quarter valued at approximately $272,000. 75.91% of the stock is owned by institutional investors and hedge funds.

HEES stock opened at $34.47 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.92 and a debt-to-equity ratio of 4.12. The company has a market capitalization of $1.24 billion, a PE ratio of 9.91, a P/E/G ratio of 0.90 and a beta of 2.52. H&E Equipment Services, Inc. has a 1 year low of $24.00 and a 1 year high of $44.24.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings results on Thursday, July 26th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.14. The business had revenue of $310.40 million during the quarter, compared to analyst estimates of $282.25 million. H&E Equipment Services had a return on equity of 42.25% and a net margin of 11.08%. The business’s revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. equities research analysts predict that H&E Equipment Services, Inc. will post 2.07 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Tuesday, August 21st will be given a $0.275 dividend. The ex-dividend date is Monday, August 20th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.19%. H&E Equipment Services’s dividend payout ratio (DPR) is presently 31.61%.

A number of equities analysts have commented on the company. Bank of America reduced their target price on H&E Equipment Services from $48.00 to $46.00 and set a “buy” rating for the company in a report on Friday, July 27th. BidaskClub cut H&E Equipment Services from a “strong-buy” rating to a “buy” rating in a report on Friday, July 13th. ValuEngine raised H&E Equipment Services from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. Zacks Investment Research cut H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. Finally, UBS Group raised H&E Equipment Services from a “sell” rating to a “neutral” rating and set a $18.00 target price for the company in a report on Wednesday, June 27th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $38.40.

In other news, CEO John Engquist sold 2,100 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $40.05, for a total value of $84,105.00. Following the completion of the sale, the chief executive officer now directly owns 2,512,191 shares in the company, valued at $100,613,249.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.70% of the stock is owned by corporate insiders.

About H&E Equipment Services

H&E Equipment Services, Inc operates as an integrated equipment services company. The company rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks. It offers heavy construction and industrial equipment for rent on a daily, weekly, and monthly basis.

Further Reading: Asset Allocation

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Institutional Ownership by Quarter for H&E Equipment Services (NASDAQ:HEES)

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