Tygh Capital Management Inc. Has $5.04 Million Position in H&E Equipment Services, Inc. (HEES)

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Tygh Capital Management Inc. lessened its position in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 28.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 247,031 shares of the industrial products company’s stock after selling 99,260 shares during the period. Tygh Capital Management Inc. owned 0.69% of H&E Equipment Services worth $5,044,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HEES. BlackRock Inc. raised its stake in H&E Equipment Services by 14.4% during the third quarter. BlackRock Inc. now owns 2,603,108 shares of the industrial products company’s stock worth $98,346,000 after buying an additional 326,683 shares during the last quarter. Alliancebernstein L.P. raised its stake in H&E Equipment Services by 26.5% during the third quarter. Alliancebernstein L.P. now owns 1,460,672 shares of the industrial products company’s stock worth $55,184,000 after buying an additional 306,269 shares during the last quarter. Gilman Hill Asset Management LLC bought a new position in H&E Equipment Services during the fourth quarter worth $3,203,000. PNC Financial Services Group Inc. raised its stake in H&E Equipment Services by 6,476.8% during the third quarter. PNC Financial Services Group Inc. now owns 157,844 shares of the industrial products company’s stock worth $5,962,000 after buying an additional 155,444 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in H&E Equipment Services by 16.8% during the third quarter. JPMorgan Chase & Co. now owns 963,763 shares of the industrial products company’s stock worth $36,411,000 after buying an additional 138,743 shares during the last quarter. 68.96% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of H&E Equipment Services from a “sell” rating to a “hold” rating in a research note on Tuesday, January 22nd. UBS Group set a $28.00 price target on shares of H&E Equipment Services and gave the stock a “hold” rating in a report on Monday, November 12th. ValuEngine upgraded shares of H&E Equipment Services from a “strong sell” rating to a “sell” rating in a report on Thursday, January 24th. BidaskClub cut shares of H&E Equipment Services from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Macquarie set a $25.00 price target on shares of H&E Equipment Services and gave the stock a “hold” rating in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. H&E Equipment Services presently has a consensus rating of “Hold” and a consensus target price of $36.50.

In other H&E Equipment Services news, Director Paul Arnold acquired 10,000 shares of H&E Equipment Services stock in a transaction dated Tuesday, December 18th. The stock was purchased at an average cost of $20.07 per share, for a total transaction of $200,700.00. Following the completion of the acquisition, the director now directly owns 68,204 shares of the company’s stock, valued at $1,368,854.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce Bruckmann acquired 22,500 shares of H&E Equipment Services stock in a transaction dated Friday, December 21st. The shares were acquired at an average price of $19.56 per share, with a total value of $440,100.00. Following the completion of the acquisition, the director now directly owns 767,740 shares of the company’s stock, valued at $15,016,994.40. The disclosure for this purchase can be found here. 11.70% of the stock is owned by company insiders.

NASDAQ:HEES traded up $0.42 during trading hours on Tuesday, reaching $27.28. The company had a trading volume of 31,694 shares, compared to its average volume of 242,839. The company has a current ratio of 0.81, a quick ratio of 0.52 and a debt-to-equity ratio of 3.93. The stock has a market capitalization of $979.71 million, a price-to-earnings ratio of 7.84, a PEG ratio of 0.83 and a beta of 2.75. H&E Equipment Services, Inc. has a twelve month low of $18.12 and a twelve month high of $44.24.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Wednesday, February 20th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Tuesday, February 19th. H&E Equipment Services’s payout ratio is 31.61%.

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H&E Equipment Services Company Profile

H&E Equipment Services, Inc operates as an integrated equipment services company. The company rents, sells, and provides parts and support services for hi-lift or aerial work platform equipment, cranes, earthmoving equipment, and industrial lift trucks. It offers heavy construction and industrial equipment for rent on a daily, weekly, and monthly basis.

Further Reading: Hedge Funds – Risk or Reward?

Want to see what other hedge funds are holding HEES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for H&E Equipment Services, Inc. (NASDAQ:HEES).

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

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