H&E Equipment Services, Inc. (NASDAQ:HEES) Plans $0.28 Quarterly Dividend

H&E Equipment Services, Inc. (NASDAQ:HEESGet Rating) announced a quarterly dividend on Friday, November 11th, Zacks reports. Shareholders of record on Monday, November 28th will be given a dividend of 0.275 per share by the industrial products company on Friday, December 9th. This represents a $1.10 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, November 25th.

H&E Equipment Services has a payout ratio of 26.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect H&E Equipment Services to earn $3.74 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 29.4%.

H&E Equipment Services Stock Up 2.7 %

HEES stock opened at $42.60 on Wednesday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.40 and a beta of 2.12. H&E Equipment Services has a 1-year low of $26.12 and a 1-year high of $48.06. The company has a current ratio of 2.45, a quick ratio of 1.94 and a debt-to-equity ratio of 3.47. The company’s 50 day moving average is $33.73 and its 200 day moving average is $32.82.

Insider Activity at H&E Equipment Services

In other news, Director Gary W. Bagley sold 6,958 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $40.11, for a total transaction of $279,085.38. Following the transaction, the director now owns 78,559 shares of the company’s stock, valued at approximately $3,151,001.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Raymond James & Associates grew its holdings in H&E Equipment Services by 8.4% in the first quarter. Raymond James & Associates now owns 37,020 shares of the industrial products company’s stock valued at $1,611,000 after purchasing an additional 2,864 shares during the period. MetLife Investment Management LLC boosted its stake in H&E Equipment Services by 37.8% during the first quarter. MetLife Investment Management LLC now owns 16,721 shares of the industrial products company’s stock worth $728,000 after buying an additional 4,587 shares during the last quarter. Vanguard Group Inc. boosted its stake in H&E Equipment Services by 3.1% during the first quarter. Vanguard Group Inc. now owns 3,142,831 shares of the industrial products company’s stock worth $136,776,000 after buying an additional 95,195 shares during the last quarter. Prudential Financial Inc. acquired a new position in H&E Equipment Services during the first quarter worth $378,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in H&E Equipment Services during the first quarter worth $2,150,000. 76.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HEES shares. UBS Group reduced their price target on H&E Equipment Services from $48.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. StockNews.com began coverage on H&E Equipment Services in a research report on Wednesday, October 12th. They set a “buy” rating on the stock.

About H&E Equipment Services

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H&E Equipment Services, Inc operates as an integrated equipment services company. The company operates in five segments: Equipment Rentals, Used Equipment Sales, New Equipment Sales, 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 through a fleet of approximately 42,725 pieces of equipment.

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Dividend History for H&E Equipment Services (NASDAQ:HEES)

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