ExodusPoint Capital Management LP, a notable investment firm, has demonstrated confidence in H&E Equipment Services, Inc. (NASDAQ:HEES) by significantly increasing its holdings during the first quarter of this year. According to its latest submission of Form 13F to the Securities and Exchange Commission (SEC), ExodusPoint Capital Management LP now owns 23,616 shares of HEES, representing a remarkable surge of 136.2% from its previous holdings. With the addition of an impressive 13,617 shares acquired during this period, the fund’s ownership stake stands at 0.06% of H&E Equipment Services’ overall stock value. These actions highlight ExodusPoint Capital Management LP’s belief in the potential future growth and profitability of the industrial products company.
At the end of this reporting period, the worth of ExodusPoint Capital Management LP’s holdings in H&E Equipment Services amounted to $1,045,000. This valuation signifies a tangible return on investment for the investment firm and underscores their successful portfolio management strategies.
Furthermore, it is worth noting that H&E Equipment Services recently announced a quarterly dividend payment scheduled for September 15th. Shareholders who were recorded as investors on August 30th will receive a dividend of $0.275 per share owned. Considering this dividend distribution on an annual basis equates to $1.10 and yields an impressive rate of 2.35%. It is essential to mention that shareholders without positions or contracts affecting their eligibility recorded after August 29th will not be entitled to this dividend payment.
H&E Equipment Services currently maintains a dividend payout ratio of approximately 25.52%, demonstrating stability and consistency in distributing profits amongst shareholders while allowing room for reinvestment into the company’s operations and future prospects.
This recent development involving ExodusPoint Capital Management LP significantly increasing its stake in H&E Equipment Services showcases investor confidence and optimism in the prospects for both companies involved. It serves as a testament to the investment firm’s belief in the growth and profitability potential of H&E Equipment Services, providing a positive outlook for shareholders and analysts alike.
As always, investors are encouraged to conduct thorough research and analysis before making any investment decisions. The performance of securities can be influenced by various factors, including market volatility, economic conditions, and corporate developments. Staying informed with timely updates like these ensures adequate knowledge to make well-informed investment choices in today’s dynamic financial landscape.
Updated on: 03/03/2024
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Buy
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H&E Equipment Services: Attracting Attention With Strong Financials and Consistent Performance
H&E Equipment Services, a notable industrial products company, has witnessed various hedge funds making adjustments to their stakes in the business. Envestnet Asset Management Inc., for instance, increased its holdings in H&E Equipment Services by 5.9% during the first quarter of this year. The firm now owns approximately 14,329 shares valued at $634,000 after acquiring an additional 801 shares in the last quarter. Similarly, M&G Investment Management Ltd. boosted its stake in H&E Equipment Services by a significant 89.6%, owning 153,611 shares worth $6,759,000 after including an additional 72,598 shares in the previous quarter.
Another prominent hedge fund that made changes to its stake is Rhumbline Advisers. The firm increased its holdings by 4.6% during the first quarter, now owning around 43,948 shares worth $1,944,000 after purchasing an additional 1,939 shares recently. Citigroup Inc., on the other hand, raised its stake by 15.4% during the same period and now owns 4,552 shares valued at $201,000 after acquiring an extra 607 shares last quarter. Additionally, Saltoro Capital LP entered as a new investor during the first quarter and purchased a stake worth about $328,000.
These reports indicate that approximately 76.15% of H&E Equipment Services stock is owned by hedge funds and other institutional investors.
H&E Equipment Services has also gained attention from several recent analyst reports. One such report from B. Riley involved increasing the target price for H&E Equipment Services stock from $47 to $61 while granting it a “buy” rating in a research note on July 28th. In another research note published by StockNews.com on August 17th regarding H&E Equipment Services stock coverage initiation; they provided a strong “buy” rating.
On Tuesday, the stock of H&E Equipment Services opened at $46.71. The company currently holds a market capitalization of $1.70 billion with a PE ratio of 10.84 and a P/E/G ratio of 1.00. Its beta stands at 2.08, indicating higher volatility in comparison to the overall market. Over the past twelve months, H&E Equipment Services has traded between a low of $26.94 and a high of $56.47. Presently, its 50-day moving average price is $46.44, while its 200-day moving average price is $43.97.
H&E Equipment Services released its quarterly earnings results on July 27th, reporting an impressive earnings per share (EPS) of $1.14 for the quarter – surpassing analysts’ consensus estimates by $0.12 per share. Furthermore, the company declared revenue of $360.23 million during the same period, which exceeded analyst estimates of $344.84 million, indicating a robust financial performance by H&E Equipment Services.
The industrial products company managed to achieve a net margin of 11.50% and appreciable return on equity (ROE) of 38.49%. This year-on-year quarterly revenue growth reflects an increase of 22.2%, further highlighting H&E Equipment Services’ successful operations compared to last year’s corresponding period.
With such positive figures and consistent growth pattern showcased by H&E Equipment Services, it is no surprise that sell-side analysts project an EPS standing at approximately 4.16 for the current fiscal year.
All in all, based on these various reports and indicators from hedge funds and analysts alike, it is evident that H&E Equipment Services has drawn significant attention due to its consistent performance and strong financials in recent times.