Victory Capital Management Inc. Sells 66,682 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Victory Capital Management Inc. trimmed its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 86.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,120 shares of the industrial products company’s stock after selling 66,682 shares during the quarter. Victory Capital Management Inc.’s holdings in H&E Equipment Services were worth $447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Foundry Partners LLC boosted its position in H&E Equipment Services by 15.9% during the first quarter. Foundry Partners LLC now owns 88,603 shares of the industrial products company’s stock worth $5,687,000 after purchasing an additional 12,152 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in H&E Equipment Services by 645.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 21,968 shares of the industrial products company’s stock worth $1,411,000 after purchasing an additional 19,021 shares during the period. Sei Investments Co. bought a new position in H&E Equipment Services during the first quarter worth $1,233,000. SG Americas Securities LLC boosted its position in H&E Equipment Services by 688.1% during the second quarter. SG Americas Securities LLC now owns 20,862 shares of the industrial products company’s stock worth $921,000 after purchasing an additional 18,215 shares during the period. Finally, Comerica Bank boosted its position in shares of H&E Equipment Services by 2,460.2% in the first quarter. Comerica Bank now owns 34,819 shares of the industrial products company’s stock valued at $2,235,000 after acquiring an additional 33,459 shares during the period. 84.08% of the stock is owned by institutional investors.

H&E Equipment Services Trading Down 0.6 %

HEES opened at $48.09 on Monday. H&E Equipment Services, Inc. has a twelve month low of $38.06 and a twelve month high of $66.18. The company has a 50-day simple moving average of $47.47 and a 200 day simple moving average of $50.44. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 9.16 and a beta of 1.85.

H&E Equipment Services (NASDAQ:HEES) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.12). H&E Equipment Services had a return on equity of 30.84% and a net margin of 10.53%. The firm had revenue of $376.30 million for the quarter, compared to the consensus estimate of $382.05 million. During the same period in the prior year, the company earned $1.14 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts predict that H&E Equipment Services, Inc. will post 3.52 EPS for the current fiscal year.

H&E Equipment Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $1.10 annualized dividend and a yield of 2.29%. H&E Equipment Services’s dividend payout ratio is 23.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HEES shares. KeyCorp started coverage on shares of H&E Equipment Services in a research report on Friday, August 9th. They issued a “sector weight” rating for the company. UBS Group reduced their target price on shares of H&E Equipment Services from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Raymond James started coverage on shares of H&E Equipment Services in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus reduced their target price on shares of H&E Equipment Services from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

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.