Renaissance Technologies LLC Invests $359,000 in H&E Equipment Services, Inc. (NASDAQ:HEES)

Renaissance Technologies LLC purchased a new stake in H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,332 shares of the industrial products company's stock, valued at approximately $359,000.

Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of H&E Equipment Services by 17.8% in the 4th quarter. Meeder Asset Management Inc. now owns 1,453 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 220 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in H&E Equipment Services by 38.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,172 shares of the industrial products company's stock worth $190,000 after buying an additional 1,166 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in H&E Equipment Services in the third quarter valued at approximately $288,000. Commonwealth Equity Services LLC boosted its position in H&E Equipment Services by 15.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,108 shares of the industrial products company's stock worth $299,000 after purchasing an additional 799 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of H&E Equipment Services during the fourth quarter worth $313,000. 84.08% of the stock is currently owned by institutional investors.

H&E Equipment Services Stock Performance

Shares of HEES traded up $0.79 during mid-day trading on Friday, hitting $92.47. 430,254 shares of the company traded hands, compared to its average volume of 542,070. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 23.47 and a beta of 1.87. H&E Equipment Services, Inc. has a 1 year low of $40.93 and a 1 year high of $101.28. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.59 and a current ratio of 0.64. The stock has a 50-day moving average price of $92.60 and a two-hundred day moving average price of $76.29.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.63). The company had revenue of $319.46 million for the quarter, compared to the consensus estimate of $362.60 million. H&E Equipment Services had a net margin of 9.47% and a return on equity of 25.46%. The business's revenue for the quarter was down 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 EPS. Equities analysts anticipate that H&E Equipment Services, Inc. will post 3.25 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com began coverage on H&E Equipment Services in a research report on Thursday. They set a "hold" rating for the company. UBS Group reaffirmed a "neutral" rating and set a $92.00 price target (up previously from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $71.33.

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, Sales of Rental Equipment, Sales of New Equipment, and Parts, Service and Other Revenues. The Equipment Rentals segment focuses on renting construction and industrial equipment.