Balyasny Asset Management L.P. Sells 108,581 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Balyasny Asset Management L.P. trimmed its stake in H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 78.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,216 shares of the industrial products company's stock after selling 108,581 shares during the quarter. Balyasny Asset Management L.P. owned 0.08% of H&E Equipment Services worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in H&E Equipment Services by 3.2% during the fourth quarter. Ameriprise Financial Inc. now owns 160,621 shares of the industrial products company's stock valued at $7,864,000 after purchasing an additional 5,041 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in shares of H&E Equipment Services by 124.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 11,410 shares of the industrial products company's stock valued at $559,000 after acquiring an additional 6,320 shares during the period. Perbak Capital Partners LLP bought a new position in shares of H&E Equipment Services in the fourth quarter valued at about $1,356,000. Northern Trust Corp raised its holdings in shares of H&E Equipment Services by 9.2% in the fourth quarter. Northern Trust Corp now owns 330,310 shares of the industrial products company's stock valued at $16,172,000 after buying an additional 27,758 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in H&E Equipment Services by 3,914.1% in the fourth quarter. Voya Investment Management LLC now owns 424,809 shares of the industrial products company's stock valued at $20,799,000 after acquiring an additional 414,226 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company's stock.

H&E Equipment Services Price Performance

Shares of HEES traded up $0.31 during mid-day trading on Friday, reaching $96.29. The company had a trading volume of 379,796 shares, compared to its average volume of 559,469. The company's 50 day simple moving average is $92.66 and its 200 day simple moving average is $77.64. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 24.44 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.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.03 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 analyst estimates of $362.60 million. H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The business's quarterly revenue was down 13.9% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. Analysts expect that H&E Equipment Services, Inc. will post 3.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HEES. StockNews.com started coverage on H&E Equipment Services in a research report on Friday. They issued a "hold" rating for the company. UBS Group restated a "neutral" rating and issued a $92.00 price target (up from $60.00) on shares of H&E Equipment Services in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, H&E Equipment Services has a consensus rating of "Hold" and a consensus price target 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.