Loews Corp Takes $5.74 Million Position in H&E Equipment Services, Inc. (NASDAQ:HEES)

Loews Corp bought a new position in H&E Equipment Services, Inc. (NASDAQ:HEESFree Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 130,000 shares of the industrial products company’s stock, valued at approximately $5,742,000. H&E Equipment Services comprises approximately 0.0% of Loews Corp’s holdings, making the stock its 18th biggest holding. Loews Corp owned 0.36% of H&E Equipment Services as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in HEES. CWM LLC lifted its position in H&E Equipment Services by 42.5% in the second quarter. CWM LLC now owns 932 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 278 shares during the last quarter. ProShare Advisors LLC raised its holdings in H&E Equipment Services by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 5,781 shares of the industrial products company’s stock valued at $371,000 after buying an additional 454 shares during the last quarter. Diversified Trust Co raised its holdings in H&E Equipment Services by 5.3% during the 2nd quarter. Diversified Trust Co now owns 10,027 shares of the industrial products company’s stock valued at $443,000 after buying an additional 503 shares during the last quarter. Bank of New York Mellon Corp boosted its position in H&E Equipment Services by 0.3% during the 2nd 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 buying an additional 770 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in H&E Equipment Services in the 1st quarter worth $62,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on HEES. KeyCorp assumed coverage on H&E Equipment Services in a report on Friday, August 9th. They issued a “sector weight” rating for the company. StockNews.com downgraded shares of H&E Equipment Services from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. UBS Group reduced 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. Raymond James initiated coverage on H&E Equipment Services in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus dropped their price target on H&E Equipment Services from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.67.

Read Our Latest Stock Analysis on HEES

H&E Equipment Services Stock Up 0.9 %

Shares of HEES traded up $0.41 during mid-day trading on Friday, reaching $48.15. The company had a trading volume of 174,453 shares, compared to its average volume of 263,403. H&E Equipment Services, Inc. has a 52 week low of $38.06 and a 52 week high of $66.18. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.62 and a current ratio of 0.61. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 9.98 and a beta of 1.89. The firm has a 50-day moving average price of $47.17 and a 200 day moving average price of $51.61.

H&E Equipment Services (NASDAQ:HEESGet Free Report) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). H&E Equipment Services had a return on equity of 30.84% and a net margin of 10.53%. The company had revenue of $376.30 million during the quarter, compared to analysts’ expectations of $382.05 million. During the same period in the prior year, the company posted $1.14 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that H&E Equipment Services, Inc. will post 3.73 EPS for the current year.

H&E Equipment Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Wednesday, August 28th. H&E Equipment Services’s payout ratio is 23.55%.

H&E Equipment Services Company Profile

(Free Report)

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.

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

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