Bridgewater Associates LP Invests $3.49 Million in H&E Equipment Services, Inc. (NASDAQ:HEES)

Bridgewater Associates LP acquired a new position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 71,671 shares of the industrial products company’s stock, valued at approximately $3,489,000. Bridgewater Associates LP owned about 0.20% of H&E Equipment Services at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of H&E Equipment Services during the second quarter worth about $37,000. CWM LLC increased its stake in shares of 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 period. Meeder Asset Management Inc. bought a new stake in shares of H&E Equipment Services during the second quarter valued at approximately $65,000. Quest Partners LLC bought a new stake in shares of H&E Equipment Services during the second quarter valued at approximately $109,000. Finally, Virtu Financial LLC acquired a new position in shares of H&E Equipment Services during the first quarter worth approximately $217,000. 84.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HEES has been the topic of several analyst reports. B. Riley reaffirmed a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. UBS Group reduced their price objective on shares of H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Finally, KeyCorp assumed coverage on shares of H&E Equipment Services in a research note on Friday, August 9th. They set a “sector weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.25.

H&E Equipment Services Price Performance

Shares of H&E Equipment Services stock opened at $59.74 on Friday. H&E Equipment Services, Inc. has a 52 week low of $40.92 and a 52 week high of $66.18. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09. The stock has a market cap of $2.19 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 13.55 and a beta of 1.82. The company’s 50-day moving average price is $53.95 and its two-hundred day moving average price is $49.10.

H&E Equipment Services (NASDAQ:HEES) last released its earnings results on Tuesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.15). The business had revenue of $384.86 million for the quarter, compared to analyst estimates of $388.18 million. H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 earnings per share. As a group, sell-side analysts anticipate that H&E Equipment Services, Inc. will post 3.34 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, November 29th. H&E Equipment Services’s payout ratio is 27.92%.

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.