H&E Equipment Services (NASDAQ:HEES) Shares Gap Down to $59.22

H&E Equipment Services, Inc. (NASDAQ:HEES)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $59.22, but opened at $52.96. H&E Equipment Services shares last traded at $48.03, with a volume of 284,397 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of H&E Equipment Services from $59.00 to $69.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Wells Fargo & Company lifted their price objective on shares of H&E Equipment Services from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, StockNews.com upgraded shares of H&E Equipment Services from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st.

H&E Equipment Services Stock Performance

The stock has a market cap of $1.78 billion, a P/E ratio of 10.77, a PEG ratio of 0.82 and a beta of 1.95. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.05 and a quick ratio of 0.74. The firm’s 50-day moving average price is $59.62 and its 200-day moving average price is $52.22.

H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.25. H&E Equipment Services had a net margin of 11.52% and a return on equity of 36.72%. The company had revenue of $385.80 million for the quarter, compared to analysts’ expectations of $382.58 million. During the same quarter in the previous year, the business posted $1.41 earnings per share. H&E Equipment Services’s quarterly revenue was up 9.2% on a year-over-year basis. Sell-side analysts expect that H&E Equipment Services, Inc. will post 5.02 earnings per share for the current fiscal year.

H&E Equipment Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, February 22nd. H&E Equipment Services’s dividend payout ratio (DPR) is 23.55%.

Insider Buying and Selling at H&E Equipment Services

In other H&E Equipment Services news, Director Gary W. Bagley sold 5,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $56.34, for a total transaction of $281,700.00. Following the transaction, the director now owns 59,151 shares in the company, valued at $3,332,567.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Gary W. Bagley sold 5,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $56.34, for a total transaction of $281,700.00. Following the completion of the sale, the director now directly owns 59,151 shares of the company’s stock, valued at $3,332,567.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence C. Karlson sold 8,225 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $60.98, for a total transaction of $501,560.50. Following the completion of the sale, the director now directly owns 47,172 shares of the company’s stock, valued at $2,876,548.56. The disclosure for this sale can be found here. Insiders have sold 75,800 shares of company stock worth $4,534,789 over the last quarter. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On H&E Equipment Services

Hedge funds have recently modified their holdings of the stock. Busey Bank acquired a new position in shares of H&E Equipment Services during the first quarter valued at about $206,000. Versor Investments LP acquired a new position in H&E Equipment Services in the 4th quarter worth approximately $223,000. Avantax Planning Partners Inc. acquired a new position in H&E Equipment Services in the 4th quarter worth approximately $224,000. Principal Financial Group Inc. acquired a new position in H&E Equipment Services in the 1st quarter worth approximately $278,000. Finally, L.M. Kohn & Company acquired a new position in H&E Equipment Services in the 4th quarter worth approximately $233,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

H&E Equipment Services Company Profile

H&E Equipment Services, Inc 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.