New York State Common Retirement Fund Sells 29,690 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

New York State Common Retirement Fund lessened its stake in H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 211,302 shares of the industrial products company's stock after selling 29,690 shares during the period. New York State Common Retirement Fund owned 0.58% of H&E Equipment Services worth $11,055,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in H&E Equipment Services during the 3rd quarter worth approximately $494,000. Redwood Investments LLC boosted its stake in shares of H&E Equipment Services by 21.9% during the 3rd quarter. Redwood Investments LLC now owns 280,891 shares of the industrial products company's stock worth $12,132,000 after acquiring an additional 50,410 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of H&E Equipment Services by 1.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 307,891 shares of the industrial products company's stock worth $13,298,000 after acquiring an additional 5,840 shares in the last quarter. Strs Ohio lifted its stake in H&E Equipment Services by 81.4% in the 3rd quarter. Strs Ohio now owns 7,800 shares of the industrial products company's stock valued at $336,000 after buying an additional 3,500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in H&E Equipment Services by 9.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 309,899 shares of the industrial products company's stock valued at $13,385,000 after buying an additional 25,599 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company's stock.

H&E Equipment Services Stock Down 7.2 %

NASDAQ HEES traded down $3.50 during trading hours on Wednesday, hitting $44.79. The company had a trading volume of 839,664 shares, compared to its average volume of 236,443. H&E Equipment Services, Inc. has a fifty-two week low of $32.33 and a fifty-two week high of $66.18. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 0.83 and a beta of 1.95. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.05 and a quick ratio of 0.74. The firm's 50 day moving average is $59.50 and its 200 day moving average is $52.26.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.02). H&E Equipment Services had a net margin of 11.52% and a return on equity of 36.72%. The company had revenue of $371.20 million during the quarter, compared to analyst estimates of $352.52 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts anticipate that H&E Equipment Services, Inc. will post 5.02 earnings per share for the current fiscal year.

H&E Equipment Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.10 annualized dividend and a yield of 2.46%. H&E Equipment Services's dividend payout ratio is currently 23.55%.

Insider Activity at H&E Equipment Services

In other H&E Equipment Services news, CEO Bradley W. Barber sold 9,615 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.80, for a total value of $555,747.00. Following the completion of the transaction, the chief executive officer now directly owns 223,127 shares of the company's stock, valued at approximately $12,896,740.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other H&E Equipment Services news, CEO Bradley W. Barber sold 15,385 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $57.54, for a total value of $885,252.90. Following the completion of the transaction, the chief executive officer now directly owns 232,742 shares of the company's stock, valued at approximately $13,391,974.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Bradley W. Barber sold 9,615 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.80, for a total transaction of $555,747.00. Following the completion of the transaction, the chief executive officer now directly owns 223,127 shares of the company's stock, valued at $12,896,740.60. The disclosure for this sale can be found here. In the last three months, insiders sold 75,800 shares of company stock worth $4,534,789. Corporate insiders own 12.50% of the company's stock.

Analysts Set New Price Targets

HEES has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on H&E Equipment Services from $62.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, February 23rd. Stifel Nicolaus cut their price target on H&E Equipment Services from $69.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday. Finally, StockNews.com upgraded H&E Equipment Services from a "hold" rating to a "buy" rating in a report on Wednesday, February 21st.

H&E Equipment Services Profile

H&E Equipment Services, Inc operates as an integrated equipment services company in the United States. The company operates in five segments: Equipment Rentals, Sales of Rental Equipment, Sales of New Equipment, Parts Sales, and Repair and Maintenance Services. The Equipment Rentals segment provides construction and industrial equipment for rent on a daily, weekly, and monthly basis.