Bank of Montreal Can Lowers Stock Position in H&E Equipment Services, Inc. (NASDAQ:HEES)

Bank of Montreal Can lessened its holdings in H&E Equipment Services, Inc. (NASDAQ:HEES) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 341,907 shares of the industrial products company’s stock after selling 10,194 shares during the quarter. Bank of Montreal Can’s holdings in H&E Equipment Services were worth $12,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its holdings in H&E Equipment Services by 3.2% in the 1st quarter. BlackRock Inc. now owns 3,018,130 shares of the industrial products company’s stock valued at $114,688,000 after purchasing an additional 92,615 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of H&E Equipment Services by 0.3% during the 4th quarter. Clearbridge Investments LLC now owns 2,470,168 shares of the industrial products company’s stock valued at $73,636,000 after acquiring an additional 6,953 shares during the period. Janus Henderson Group PLC lifted its position in shares of H&E Equipment Services by 25.0% during the 4th quarter. Janus Henderson Group PLC now owns 1,584,861 shares of the industrial products company’s stock valued at $47,245,000 after acquiring an additional 316,677 shares during the period. Northern Trust Corp lifted its position in shares of H&E Equipment Services by 0.8% during the 1st quarter. Northern Trust Corp now owns 621,464 shares of the industrial products company’s stock valued at $23,615,000 after acquiring an additional 5,087 shares during the period. Finally, Norges Bank acquired a new stake in shares of H&E Equipment Services during the 4th quarter valued at approximately $15,979,000. 70.12% of the stock is currently owned by institutional investors.

Shares of H&E Equipment Services stock opened at $34.29 on Friday. The company has a debt-to-equity ratio of 5.30, a current ratio of 2.73 and a quick ratio of 2.07. H&E Equipment Services, Inc. has a 1 year low of $16.42 and a 1 year high of $41.85. The firm has a market cap of $1.24 billion, a P/E ratio of 149.09, a P/E/G ratio of 0.61 and a beta of 2.26. The stock’s 50 day moving average is $36.78.

H&E Equipment Services (NASDAQ:HEES) last issued its quarterly earnings data on Tuesday, April 27th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.04). H&E Equipment Services had a return on equity of 15.95% and a net margin of 0.73%. The company had revenue of $278.40 million for the quarter, compared to analyst estimates of $266.37 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, equities research analysts expect that H&E Equipment Services, Inc. will post 1.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 18th. Investors of record on Wednesday, June 2nd were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, June 1st. This represents a $1.10 annualized dividend and a dividend yield of 3.21%. H&E Equipment Services’s dividend payout ratio is currently 79.14%.

Separately, Zacks Investment Research upgraded shares of H&E Equipment Services from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Friday, April 30th.

About H&E Equipment Services

H&E Equipment Services, Inc operates as an integrated equipment services company. The company operates in five segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Repair and Maintenance Services. It rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks.

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

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