Northern Trust Corp Purchases 27,758 Shares of H&E Equipment Services, Inc. (NASDAQ:HEES)

Northern Trust Corp grew its stake in shares of H&E Equipment Services, Inc. (NASDAQ:HEES - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 330,310 shares of the industrial products company's stock after purchasing an additional 27,758 shares during the period. Northern Trust Corp owned about 0.90% of H&E Equipment Services worth $16,172,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Barclays PLC raised its position in H&E Equipment Services by 185.1% during the third quarter. Barclays PLC now owns 61,018 shares of the industrial products company's stock valued at $2,972,000 after buying an additional 39,617 shares during the period. Access Financial Services Inc. raised its position in H&E Equipment Services by 20.4% during 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 buying an additional 3,555 shares during the period. Jennison Associates LLC acquired a new position in H&E Equipment Services during the fourth quarter valued at $498,000. abrdn plc raised its position in H&E Equipment Services by 4.0% during the fourth quarter. abrdn plc now owns 352,615 shares of the industrial products company's stock valued at $17,264,000 after buying an additional 13,677 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. raised its position in H&E Equipment Services by 28.7% during the fourth 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 during the period. 84.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on H&E Equipment Services in a research report on Friday. 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's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $71.33.

H&E Equipment Services Stock Down 0.1%

Shares of NASDAQ HEES traded down $0.07 during mid-day trading on Tuesday, reaching $96.04. 6,001 shares of the company traded hands, compared to its average volume of 558,926. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.59 and a current ratio of 0.64. The stock has a market cap of $3.52 billion, a PE ratio of 24.39 and a beta of 1.87. The company's fifty day moving average is $92.77 and its two-hundred day moving average is $78.60. H&E Equipment Services, Inc. has a fifty-two week low of $40.93 and a fifty-two week high of $101.28.

H&E Equipment Services (NASDAQ:HEES - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.03 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 9.47% and a return on equity of 25.46%. The business's revenue was down 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 EPS. On average, analysts expect that H&E Equipment Services, Inc. will post 3.25 earnings per share for the current year.

H&E Equipment Services Company 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.