Lazard Asset Management LLC Sells 4,366 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. raised its position 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 worth $71,000 after acquiring an additional 220 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings 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 buying an additional 1,166 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in 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 acquiring an additional 799 shares during the period. KLP Kapitalforvaltning AS bought a new stake in H&E Equipment Services during the fourth quarter worth about $313,000. Finally, Handelsbanken Fonder AB grew its holdings in 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 purchasing an additional 1,000 shares during the period. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

H&E Equipment Services Stock Up 1.1%

Shares of HEES traded up $0.99 on Tuesday, hitting $95.63. 176,044 shares of the stock traded hands, compared to its average volume of 563,218. 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 market capitalization of $3.51 billion, a PE ratio of 24.27 and a beta of 1.87. The business has a 50 day simple moving average of $92.88 and a 200 day simple moving average of $79.97. 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 released its quarterly earnings data 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 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 net margin of 9.47% and a return on equity of 25.46%. The business's revenue was down 13.9% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. As a group, equities analysts forecast that H&E Equipment Services, Inc. will post 3.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen assumed coverage on H&E Equipment Services in a research note on Friday, May 16th. They issued a "hold" rating on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price 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.