ClariVest Asset Management LLC Has $850,000 Holdings in H&E Equipment Services, Inc. (NASDAQ:HEES)

ClariVest Asset Management LLC cut its holdings in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 60.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,249 shares of the industrial products company’s stock after selling 29,012 shares during the period. ClariVest Asset Management LLC’s holdings in H&E Equipment Services were worth $850,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of H&E Equipment Services by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 445,582 shares of the industrial products company’s stock valued at $23,313,000 after purchasing an additional 4,978 shares in the last quarter. Versor Investments LP bought a new position in H&E Equipment Services in the fourth quarter valued at approximately $223,000. First Eagle Investment Management LLC boosted its holdings in shares of H&E Equipment Services by 8.4% in the fourth quarter. First Eagle Investment Management LLC now owns 225,732 shares of the industrial products company’s stock valued at $11,810,000 after buying an additional 17,528 shares during the period. Panagora Asset Management Inc. increased its position in shares of H&E Equipment Services by 31.9% during the fourth quarter. Panagora Asset Management Inc. now owns 135,541 shares of the industrial products company’s stock worth $7,092,000 after acquiring an additional 32,788 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of H&E Equipment Services during the fourth quarter worth $11,827,000. 84.08% of the stock is owned by institutional investors and hedge funds.

H&E Equipment Services Stock Performance

HEES opened at $42.20 on Thursday. The business’s 50-day simple moving average is $47.27 and its 200 day simple moving average is $51.01. H&E Equipment Services, Inc. has a 52-week low of $38.06 and a 52-week high of $66.18. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 0.61. The firm has a market capitalization of $1.54 billion, a PE ratio of 9.04, a PEG ratio of 9.41 and a beta of 1.85.

H&E Equipment Services (NASDAQ:HEES) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $376.30 million for the quarter, compared to the consensus estimate of $382.05 million. During the same quarter in the prior year, the company earned $1.14 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that H&E Equipment Services, Inc. will post 3.52 earnings per share for the current fiscal year.

H&E Equipment Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Wednesday, August 28th. H&E Equipment Services’s dividend payout ratio (DPR) is presently 23.55%.

Analyst Ratings Changes

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

About H&E Equipment Services

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.