Lazard Asset Management LLC Decreases Holdings in H&E Equipment Services, Inc. (NASDAQ:HEES)

Lazard Asset Management LLC cut its holdings in H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 37.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,337 shares of the industrial products company's stock after selling 4,366 shares during the quarter. Lazard Asset Management LLC's holdings in H&E Equipment Services were worth $358,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HEES. Meeder Asset Management Inc. lifted its position in H&E Equipment Services by 17.8% during the fourth 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 period. CIBC Private Wealth Group LLC increased its position in shares of H&E Equipment Services by 38.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,172 shares of the industrial products company's stock valued at $190,000 after purchasing an additional 1,166 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of H&E Equipment Services by 15.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,108 shares of the industrial products company's stock valued at $299,000 after purchasing an additional 799 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of H&E Equipment Services in the 4th quarter worth approximately $313,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of H&E Equipment Services by 17.7% in the fourth quarter. Handelsbanken Fonder AB now owns 6,637 shares of the industrial products company's stock worth $325,000 after buying an additional 1,000 shares during the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on shares of H&E Equipment Services in a report on Friday, May 16th. They set a "hold" rating for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $71.33.

H&E Equipment Services Price Performance

H&E Equipment Services stock traded up $0.06 during mid-day trading on Wednesday, hitting $95.52. The stock had a trading volume of 22,191 shares, compared to its average volume of 562,082. H&E Equipment Services, Inc. has a one year low of $40.93 and a one 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 firm has a market capitalization of $3.50 billion, a P/E ratio of 24.25 and a beta of 1.87. The firm's 50 day moving average is $92.88 and its 200 day moving average is $80.08.

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

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.