587,817 Shares in H&E Equipment Services, Inc. (NASDAQ:HEES) Acquired by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. acquired a new stake in H&E Equipment Services, Inc. (NASDAQ:HEES) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 587,817 shares of the industrial products company’s stock, valued at approximately $28,780,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Klein Pavlis & Peasley Financial Inc. increased 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 acquiring an additional 3,420 shares during the period. abrdn plc grew its position in 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 purchasing an additional 13,677 shares during the last quarter. Jennison Associates LLC acquired a new position in H&E Equipment Services in the fourth quarter valued at $498,000. Access Financial Services Inc. raised its holdings in shares of 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 buying an additional 3,555 shares during the last quarter. Finally, Harbour Capital Advisors LLC boosted its stake in shares of H&E Equipment Services by 7.4% during the fourth quarter. Harbour Capital Advisors LLC now owns 28,045 shares of the industrial products company’s stock worth $1,370,000 after buying an additional 1,935 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com started coverage on H&E Equipment Services in a research report on Sunday. They issued a “hold” rating on the stock. UBS Group reissued a “neutral” rating and issued a $92.00 target price (up previously from $60.00) on shares of H&E Equipment Services in a report on Friday, January 17th. Finally, B. Riley reaffirmed a “buy” rating and set a $60.00 price target (down from $62.00) on shares of H&E Equipment Services in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $69.25.

H&E Equipment Services Stock Performance

Shares of HEES opened at $87.40 on Friday. The company has a market capitalization of $3.20 billion, a PE ratio of 22.18 and a beta of 1.93. H&E Equipment Services, Inc. has a 52-week low of $40.92 and a 52-week high of $90.66. The company has a 50-day simple moving average of $65.73 and a 200-day simple moving average of $55.86. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.09.

H&E Equipment Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Tuesday, February 18th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.26%. H&E Equipment Services’s dividend payout ratio is currently 27.92%.

H&E Equipment Services 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, New Equipment Sales, Used Equipment Sales, Parts Sales, and Services. The Equipment Rentals segment focuses on renting construction and industrial equipment.