H&E Equipment Services (NASDAQ:HEES) Reaches New 12-Month High – Here’s Why

H&E Equipment Services, Inc. (NASDAQ:HEES)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $99.28 and last traded at $97.80, with a volume of 468359 shares changing hands. The stock had previously closed at $87.56.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HEES. StockNews.com assumed coverage on shares of H&E Equipment Services in a report on Monday. They issued a “hold” rating for the company. B. Riley reiterated 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, October 30th. Finally, 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 three have assigned a buy rating to the stock. Based on data from MarketBeat, H&E Equipment Services presently has a consensus rating of “Hold” and an average target price of $69.25.

H&E Equipment Services Stock Performance

The stock has a fifty day simple moving average of $69.10 and a two-hundred day simple moving average of $57.42. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.59 and a current ratio of 0.64. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 25.54 and a beta of 1.93.

H&E Equipment Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Tuesday, February 18th. H&E Equipment Services’s dividend payout ratio (DPR) is presently 27.92%.

Institutional Trading of H&E Equipment Services

Several large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its stake in H&E Equipment Services by 17.8% during the fourth quarter. Meeder Asset Management Inc. now owns 1,453 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 220 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of H&E Equipment Services during the third quarter valued at about $84,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of H&E Equipment Services by 227.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,749 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 1,910 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of H&E Equipment Services by 38.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,172 shares of the industrial products company’s stock valued at $190,000 after buying an additional 1,166 shares during the period. Finally, L.M. Kohn & Company bought a new stake in H&E Equipment Services in the 3rd quarter valued at about $217,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

H&E Equipment Services Company 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.