Assenagon Asset Management S.A. Sells 188,712 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Assenagon Asset Management S.A. lowered its position in H&E Equipment Services, Inc. (NASDAQ:HEES) by 97.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,390 shares of the industrial products company’s stock after selling 188,712 shares during the quarter. Assenagon Asset Management S.A.’s holdings in H&E Equipment Services were worth $264,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HEES. Renaissance Technologies LLC raised its position in H&E Equipment Services by 420.5% in the 2nd quarter. Renaissance Technologies LLC now owns 33,832 shares of the industrial products company’s stock valued at $1,494,000 after purchasing an additional 27,332 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of H&E Equipment Services in the second quarter valued at about $2,793,000. Squarepoint Ops LLC acquired a new position in H&E Equipment Services during the 2nd quarter worth about $612,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in H&E Equipment Services during the 2nd quarter worth about $37,000. Finally, Millennium Management LLC increased its position in H&E Equipment Services by 200.6% in the 2nd quarter. Millennium Management LLC now owns 133,554 shares of the industrial products company’s stock valued at $5,899,000 after acquiring an additional 89,128 shares in the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on HEES. B. Riley reissued a “buy” rating and set a $60.00 price target (down from $62.00) on shares of H&E Equipment Services in a research note on Wednesday, October 30th. UBS Group reaffirmed a “neutral” rating and set a $92.00 price objective (up previously from $60.00) on shares of H&E Equipment Services in a report on Friday, January 17th. Finally, StockNews.com started coverage on H&E Equipment Services in a research note on Friday. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $69.25.

H&E Equipment Services Trading Down 0.3 %

HEES opened at $88.50 on Friday. The firm has a 50 day simple moving average of $59.78 and a 200 day simple moving average of $53.24. H&E Equipment Services, Inc. has a fifty-two week low of $40.92 and a fifty-two week high of $90.66. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 22.46 and a beta of 1.88. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.64 and a quick ratio of 0.59.

H&E Equipment Services (NASDAQ:HEES) last issued 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). H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The business had revenue of $384.86 million for the quarter, compared to the consensus estimate of $388.18 million. During the same quarter in the previous year, the firm posted $1.46 EPS. The business’s revenue was down 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that H&E Equipment Services, Inc. will post 3.27 earnings per share for the current year.

H&E Equipment Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, November 29th. H&E Equipment Services’s payout ratio is 27.92%.

H&E Equipment Services Profile

H&E Equipment Services, Inc engages in the provision of equipment services, which focus on heavy construction and industrial equipment. It operates through the following segments: Equipment Rentals, New Equipment Sales, Used Equipment Sales, Parts Sales, and Services. The Equipment Rentals segment focuses on renting construction and industrial equipment.