H&E Equipment Services, Inc. (NASDAQ:HEES) declared a quarterly dividend on Wednesday, November 7th, RTT News reports. Investors of record on Monday, November 19th will be given a dividend of 0.275 per share by the industrial products company on Friday, December 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.52%.
H&E Equipment Services has raised its dividend by an average of 30.1% per year over the last three years. H&E Equipment Services has a payout ratio of 53.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect H&E Equipment Services to earn $2.18 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 50.5%.
NASDAQ HEES opened at $24.35 on Wednesday. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.52 and a current ratio of 0.81. H&E Equipment Services has a 52-week low of $19.57 and a 52-week high of $44.24. The stock has a market cap of $862.27 million, a P/E ratio of 7.00, a P/E/G ratio of 0.84 and a beta of 2.90.
A number of research firms recently issued reports on HEES. Zacks Investment Research raised H&E Equipment Services from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Bank of America lowered their price target on H&E Equipment Services from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, July 27th. BidaskClub lowered H&E Equipment Services from a “strong-buy” rating to a “buy” rating in a report on Friday, July 13th. Finally, Macquarie set a $25.00 price target on 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 given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $35.80.
In other H&E Equipment Services news, Director Paul Arnold acquired 10,000 shares of the stock in a transaction on Monday, October 29th. The shares were bought at an average price of $20.50 per share, with a total value of $205,000.00. Following the acquisition, the director now owns 58,204 shares of the company’s stock, valued at $1,193,182. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.70% of the stock is currently owned by insiders.
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About H&E Equipment Services
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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