H&E Equipment Services said on May 12, 2023 that its board of directors declared a regular quarterly dividend of $0.28 per share ($1.10 annualized). Previously, the company paid $0.28 per share.
Shares must be purchased before the ex-div date of May 24, 2023 to qualify for the dividend. Shareholders of record as of May 25, 2023 will receive the payment on June 9, 2023.
At the current share price of $35.75 / share, the stock's dividend yield is 3.08%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.79%, the lowest has been 1.98%, and the highest has been 9.96%. The standard deviation of yields is 1.33 (n=237).
The current dividend yield is 0.54 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.28. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 451 funds or institutions reporting positions in H&E Equipment Services. This is an increase of 24 owner(s) or 5.62% in the last quarter. Average portfolio weight of all funds dedicated to HEES is 0.18%, an increase of 0.11%. Total shares owned by institutions increased in the last three months by 1.26% to 36,260K shares. © Provided by FintelHEES / H&E Equipment Services Inc Put/Call RatiosThe put/call ratio of HEES is 0.48, indicating a bullish outlook.
Analyst Price Forecast Suggests 69.76% Upside
As of May 11, 2023, the average one-year price target for H&E Equipment Services is 60.69. The forecasts range from a low of 47.47 to a high of $87.15. The average price target represents an increase of 69.76% from its latest reported closing price of 35.75.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for H&E Equipment Services is 1,465MM, an increase of 13.17%. The projected annual non-GAAP EPS is 4.11.
What are Other Shareholders Doing?
Clearbridge Investments holds 2,502K shares representing 6.96% ownership of the company. In it's prior filing, the firm reported owning 2,561K shares, representing a decrease of 2.36%. The firm decreased its portfolio allocation in HEES by 7.92% over the last quarter.
SASMX - ClearBridge Small Cap Growth Fund holds 1,626K shares representing 4.53% ownership of the company. No change in the last quarter.
Macquarie Group holds 1,540K shares representing 4.29% ownership of the company. In it's prior filing, the firm reported owning 1,535K shares, representing an increase of 0.31%. The firm decreased its portfolio allocation in HEES by 24.03% over the last quarter.
American Century Companies holds 1,415K shares representing 3.94% ownership of the company. In it's prior filing, the firm reported owning 1,421K shares, representing a decrease of 0.46%. The firm decreased its portfolio allocation in HEES by 6.55% over the last quarter.
Invesco holds 1,231K shares representing 3.42% ownership of the company. In it's prior filing, the firm reported owning 629K shares, representing an increase of 48.85%. The firm decreased its portfolio allocation in HEES by 83.21% over the last quarter.
H&E Equipment Services Background Information
(This description is provided by the company.)
The Company is one of the largest integrated equipment services companies in the United States with 97 full-service facilities throughout the West Coast, Intermountain, Southwest, Gulf Coast, Mid-Atlantic and Southeast regions. The Company is focused on heavy construction and industrial equipment, and rents, sells, and provides parts and services support for four core categories of specialized equipment: hi-lift or aerial platform equipment; cranes; earthmoving equipment; and material handling equipment. By providing equipment rental, sales, on site parts, repair services, and maintenance functions under one roof, the Company is a one-stop provider for its customers' varied equipment needs. This full service approach provides the Company with multiple points of customer contact, enabling it to maintain a high quality rental fleet, as well as an effective distribution channel for fleet disposal, and provides cross-selling opportunities among its new and used equipment sales, rentals, parts sales, and services operations.
Key filings for this company:
This story originally appeared on Fintel.