Shell Asset Management Co. Sells 2,652 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Posted by Defense World Staff on May 5th, 2023

Shell Asset Management Co. lessened its stake in H&E Equipment Services, Inc. (NASDAQ:HEES – Get Rating) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,414 shares of the industrial products company’s stock after selling 2,652 shares during the quarter. Shell Asset Management Co.’s holdings in H&E Equipment Services were worth $564,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in HEES. Vanguard Group Inc. lifted its stake in H&E Equipment Services by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,319,831 shares of the industrial products company’s stock valued at $94,084,000 after acquiring an additional 69,889 shares in the last quarter. BlackRock Inc. grew its position in H&E Equipment Services by 2.2% in the third quarter. BlackRock Inc. now owns 2,551,339 shares of the industrial products company’s stock valued at $72,305,000 after purchasing an additional 55,281 shares in the last quarter. Macquarie Group Ltd. increased its stake in H&E Equipment Services by 0.6% in the 2nd quarter. Macquarie Group Ltd. now owns 1,231,083 shares of the industrial products company’s stock valued at $35,665,000 after buying an additional 7,231 shares during the last quarter. State Street Corp lifted its position in H&E Equipment Services by 1.8% during the 2nd quarter. State Street Corp now owns 679,314 shares of the industrial products company’s stock worth $19,680,000 after buying an additional 11,697 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of H&E Equipment Services by 36.9% during the 3rd quarter. Victory Capital Management Inc. now owns 606,145 shares of the industrial products company’s stock worth $17,178,000 after buying an additional 163,538 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

Insider Buying and Selling

In other H&E Equipment Services news, Director Gary W. Bagley sold 10,000 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $54.31, for a total value of $543,100.00. Following the transaction, the director now directly owns 62,384 shares of the company’s stock, valued at approximately $3,388,075.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Gary W. Bagley sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $54.31, for a total value of $543,100.00. Following the completion of the sale, the director now directly owns 62,384 shares in the company, valued at approximately $3,388,075.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Mcdowell Engquist sold 15,000 shares of H&E Equipment Services stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $55.73, for a total value of $835,950.00. Following the sale, the chief operating officer now directly owns 48,943 shares of the company’s stock, valued at approximately $2,727,593.39. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by insiders.

H&E Equipment Services Trading Down 5.0 %

H&E Equipment Services stock opened at $32.62 on Friday. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.20 and a current ratio of 1.91. The stock has a 50-day simple moving average of $44.26 and a 200 day simple moving average of $44.17. The stock has a market capitalization of $1.19 billion, a P/E ratio of 8.39, a PEG ratio of 0.76 and a beta of 2.01. H&E Equipment Services, Inc. has a 52 week low of $26.12 and a 52 week high of $56.47.

H&E Equipment Services (NASDAQ:HEES – Get Rating) last posted its earnings results on Thursday, April 27th. The industrial products company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. H&E Equipment Services had a return on equity of 38.04% and a net margin of 10.93%. The business had revenue of $322.50 million for the quarter, compared to analyst estimates of $307.11 million. During the same period in the previous year, the firm earned $0.45 EPS. The firm’s revenue was up 18.3% compared to the same quarter last year. Analysts expect that H&E Equipment Services, Inc. will post 4.03 earnings per share for the current year.

H&E Equipment Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 24th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, February 23rd. H&E Equipment Services’s dividend payout ratio is presently 28.28%.

Analyst Ratings Changes

HEES has been the topic of a number of recent research reports. B. Riley lowered their target price on H&E Equipment Services from $60.00 to $47.00 in a research report on Friday, April 28th. Wells Fargo & Company upped their price objective on H&E Equipment Services from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, February 23rd. Finally, StockNews.com began coverage on shares of H&E Equipment Services in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $54.75.

H&E Equipment Services Company Profile

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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.