Wells Fargo & Company MN Purchases 7,900 Shares of H&E Equipment Services, Inc. (HEES)

Wells Fargo & Company MN grew its position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 12.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 73,099 shares of the industrial products company’s stock after buying an additional 7,900 shares during the period. Wells Fargo & Company MN’s holdings in H&E Equipment Services were worth $2,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Alliancebernstein L.P. increased its holdings in shares of H&E Equipment Services by 25.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,539,181 shares of the industrial products company’s stock valued at $31,415,000 after purchasing an additional 307,979 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in H&E Equipment Services by 3.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 553,184 shares of the industrial products company’s stock worth $11,289,000 after acquiring an additional 18,143 shares in the last quarter. Macquarie Group Ltd. increased its holdings in H&E Equipment Services by 12.4% in the 2nd quarter. Macquarie Group Ltd. now owns 2,391,042 shares of the industrial products company’s stock worth $48,801,000 after acquiring an additional 263,383 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in H&E Equipment Services by 5.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 285,594 shares of the industrial products company’s stock worth $5,829,000 after acquiring an additional 15,795 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new stake in H&E Equipment Services in the 3rd quarter worth $2,554,000. 75.45% of the stock is owned by hedge funds and other institutional investors.

HEES has been the subject of several recent analyst reports. UBS Group boosted their price target on shares of H&E Equipment Services from $16.00 to $17.00 and gave the stock a “sell” rating in a report on Friday, October 27th. Bank of America initiated coverage on shares of H&E Equipment Services in a report on Tuesday, September 26th. They issued a “buy” rating and a $33.00 price target for the company. Buckingham Research initiated coverage on shares of H&E Equipment Services in a report on Tuesday, November 21st. They issued a “buy” rating and a $39.00 price target for the company. Zacks Investment Research lowered shares of H&E Equipment Services from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, ValuEngine raised shares of H&E Equipment Services from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $31.40.

Shares of H&E Equipment Services, Inc. (NASDAQ HEES) opened at $40.01 on Wednesday. The company has a market cap of $1,455.15, a price-to-earnings ratio of 39.23, a P/E/G ratio of 1.26 and a beta of 2.90. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 5.29. H&E Equipment Services, Inc. has a 1-year low of $17.44 and a 1-year high of $41.44.

H&E Equipment Services (NASDAQ:HEES) last released its earnings results on Thursday, October 26th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.32. H&E Equipment Services had a net margin of 3.69% and a return on equity of 38.83%. The business had revenue of $259.16 million during the quarter, compared to analyst estimates of $252.94 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. analysts expect that H&E Equipment Services, Inc. will post 1.6 earnings per share for the current year.

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About H&E Equipment Services

H&E Equipment Services, Inc is an integrated equipment services company. The Company is focused on heavy construction and industrial equipment. As of December 31, 2016, the Company rented, sold and provided parts and services support for four core categories of specialized equipment: hi-lift or aerial work platform equipment; cranes; earthmoving equipment, and industrial lift trucks.

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Institutional Ownership by Quarter for H&E Equipment Services (NASDAQ:HEES)

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