Dudley & Shanley Inc. Raises Stock Holdings in HEICO Co. (NYSE:HEI)

Dudley & Shanley Inc. boosted its position in HEICO Co. (NYSE:HEI) by 24.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,400 shares of the aerospace company’s stock after buying an additional 3,560 shares during the quarter. HEICO makes up approximately 0.6% of Dudley & Shanley Inc.’s portfolio, making the stock its 26th biggest position. Dudley & Shanley Inc.’s holdings in HEICO were worth $3,514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Avalon Capital Management raised its holdings in shares of HEICO by 103.3% during the first quarter. Avalon Capital Management now owns 3,490 shares of the aerospace company’s stock valued at $667,000 after acquiring an additional 1,773 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of HEICO in the first quarter worth $307,000. Gateway Investment Advisers LLC boosted its position in shares of HEICO by 3.3% during the first quarter. Gateway Investment Advisers LLC now owns 53,781 shares of the aerospace company’s stock valued at $10,272,000 after buying an additional 1,713 shares during the last quarter. Meyer Handelman Co. purchased a new stake in shares of HEICO during the first quarter valued at $1,072,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of HEICO during the fourth quarter valued at $897,000. Institutional investors own 27.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HEI. Truist Financial reissued a “buy” rating and issued a $240.00 target price (up previously from $229.00) on shares of HEICO in a report on Thursday, May 30th. Benchmark lifted their price objective on HEICO from $185.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Royal Bank of Canada boosted their target price on HEICO from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $178.00 to $225.00 in a research report on Tuesday, June 4th. Finally, Robert W. Baird upped their target price on HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $236.00.

HEICO Stock Up 1.7 %

NYSE HEI traded up $3.90 during trading on Wednesday, reaching $228.03. 304,546 shares of the company’s stock were exchanged, compared to its average volume of 381,929. The stock has a market cap of $31.58 billion, a P/E ratio of 70.48, a price-to-earnings-growth ratio of 3.29 and a beta of 1.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.57 and a current ratio of 3.52. The company has a 50 day moving average price of $218.21 and a two-hundred day moving average price of $197.52. HEICO Co. has a 1 year low of $155.42 and a 1 year high of $232.02.

HEICO (NYSE:HEI) last issued its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.08. The firm had revenue of $955.40 million for the quarter, compared to analysts’ expectations of $951.24 million. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, equities research analysts anticipate that HEICO Co. will post 3.56 EPS for the current fiscal year.

HEICO Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.11 dividend. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07. This represents a dividend yield of 0.1%. The ex-dividend date is Monday, July 1st. HEICO’s dividend payout ratio (DPR) is 6.29%.

Insider Buying and Selling

In other news, insider Eric A. Mendelson sold 2,832 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $180.06, for a total transaction of $509,929.92. Following the completion of the sale, the insider now directly owns 246,060 shares in the company, valued at $44,305,563.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.10% of the company’s stock.

About HEICO

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.