Point72 DIFC Ltd invests $256,000 in H&E Equipment Services, Inc. (NASDAQ:HEES)

VaselineSeptember 27, 2024

0 3 minutes read

Point72 DIFC Ltd acquired a new stake in the shares of H&E Equipment Services, Inc. (NASDAQ:HEES – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,799 shares of the industrial products company’s stock, valued at approximately $256,000.

A number of other institutional investors have also recently made changes to their positions in the business. Lombard Odier Asset Management USA Corp purchased a new stake in H&E Equipment Services in the second quarter valued at about $1,070,000. MQS Management LLC purchased a new position in shares of H&E Equipment Services in the second quarter valued at about $219,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of H&E Equipment Services in the second quarter valued at about $545,000. Edgestream Partners LP purchased a new position in shares of H&E Equipment Services in the second quarter valued at about $239,000. Finally, Renaissance Technologies LLC raised its stake in H&E Equipment Services by 420.5% in the second quarter. Renaissance Technologies LLC now owns 33,832 shares of the industrial products company’s stock worth $1,494,000 after purchasing an additional 27,332 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s shares.

H&E Equipment Services Trading Up 1.0%

NASDAQ HEES opened at $47.55 on Friday. H&E Equipment Services, Inc. has a 1 year low of $38.06 and a 1 year high of $66.18. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.61, and a quick ratio of 0.56. The company has a market cap of $1.74 billion, a PE ratio of 10.18, a P/E/G ratio of 10.35 and a beta of 1.85. The company has a fifty day moving average of $47.11 and a 200 day moving average of $50.25.

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H&E Equipment Services (NASDAQ:HEES – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.12). The company had revenue of $376.30 million during the quarter, compared to analyst estimates of $382.05 million. H&E Equipment Services had a net margin of 10.53% and a return on equity of 30.84%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. In the same period last year, the firm earned $1.14 EPS. Research analysts estimate that H&E Equipment Services, Inc. will post 3.52 earnings per share for the current year.

H&E Equipment Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a $0.275 dividend. The ex-dividend date was Wednesday, August 28. This represents an annualized dividend of $1.10 and a yield of 2.31%. H&E Equipment Services’s dividend payout ratio is currently 23.55%.

Analysts on Wall Street are forecasting an increase

A number of research analysts have issued reports on the stock. KeyCorp initiated coverage on shares of H&E Equipment Services in a report on Friday, August 9th. They issued a “sector weight” rating on the company. UBS Group cut their price target on H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Stifel Nicolaus decreased 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 note on Wednesday, July 31st. Finally, Raymond James assumed coverage on H&E Equipment Services in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Moderate Buy” and a consensus price target of $61.67, according to MarketBeat.

Get the latest report on H&E equipment services

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 rental, rental equipment sales, new equipment sales, parts sales, and repair and maintenance services. The Equipment Rentals segment offers construction and industrial equipment for daily, weekly and monthly rentals.