Tygh Capital Management Inc. decreased its stake in H&E Equipment Services, Inc. (NASDAQ:HEES) by 28.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 247,031 shares of the industrial products company’s stock after selling 99,260 shares during the period. Tygh Capital Management Inc.’s holdings in H&E Equipment Services were worth $5,044,000 as of its most recent filing with the SEC.

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

Several analysts have commented on the stock. Zacks Investment Research raised shares of H&E Equipment Services from a “sell” rating to a “hold” rating and set a $30.00 price objective on the stock in a research report on Tuesday, February 5th. ValuEngine lowered shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Finally, BidaskClub lowered shares of H&E Equipment Services from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $36.50.

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

Shares of NASDAQ HEES traded up $0.42 during midday trading on Tuesday, hitting $27.28. The company’s stock had a trading volume of 31,694 shares, compared to its average volume of 242,839. H&E Equipment Services, Inc. has a one year low of $18.12 and a one year high of $44.24. The company has a quick ratio of 0.52, a current ratio of 0.81 and a debt-to-equity ratio of 3.93. The firm has a market cap of $979.71 million, a P/E ratio of 7.84, a price-to-earnings-growth ratio of 0.83 and a beta of 2.75.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Wednesday, February 20th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Tuesday, February 19th. H&E Equipment Services’s dividend payout ratio (DPR) is currently 31.61%.

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H&E Equipment Services 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.

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

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