Bank of America Corp DE Trims Position in H&E Equipment Services, Inc. (NASDAQ:HEES)

Bank of America Corp DE trimmed its position in H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 11.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 777,727 shares of the industrial products company's stock after selling 103,951 shares during the quarter. Bank of America Corp DE owned approximately 2.12% of H&E Equipment Services worth $38,078,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Barclays PLC lifted its holdings in H&E Equipment Services by 185.1% during the 3rd quarter. Barclays PLC now owns 61,018 shares of the industrial products company's stock worth $2,972,000 after buying an additional 39,617 shares during the last quarter. Access Financial Services Inc. increased its stake in H&E Equipment Services by 20.4% in the fourth quarter. Access Financial Services Inc. now owns 20,976 shares of the industrial products company's stock valued at $1,027,000 after purchasing an additional 3,555 shares during the last quarter. Jennison Associates LLC acquired a new stake in H&E Equipment Services during the fourth quarter worth approximately $498,000. abrdn plc lifted its position in shares of H&E Equipment Services by 4.0% during the 4th quarter. abrdn plc now owns 352,615 shares of the industrial products company's stock worth $17,264,000 after buying an additional 13,677 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of H&E Equipment Services by 28.7% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 15,335 shares of the industrial products company's stock valued at $751,000 after buying an additional 3,420 shares in the last quarter. 84.08% of the stock is owned by hedge funds and other institutional investors.

H&E Equipment Services Stock Performance

HEES stock traded down $0.18 on Monday, hitting $96.11. The company's stock had a trading volume of 573,753 shares, compared to its average volume of 561,732. 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 current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.09. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 24.39 and a beta of 1.87. The firm has a 50 day moving average of $92.71 and a two-hundred day moving average of $78.11.

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 analysts' consensus estimates of $0.66 by ($0.63). H&E Equipment Services had a return on equity of 25.46% and a net margin of 9.47%. The company had revenue of $319.46 million for the quarter, compared to analysts' expectations of $362.60 million. During the same period in the prior year, the business earned $0.71 EPS. The business's quarterly revenue was down 13.9% compared to the same quarter last year. Equities analysts predict that H&E Equipment Services, Inc. will post 3.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of H&E Equipment Services in a research report on Friday. They issued a "hold" rating for the company. Four 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 an average rating of "Hold" and a consensus price target of $71.33.

About H&E Equipment Services

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.