United Rentals buys Neff Rental for $1.3 billion

18 Août, 2017, 06:09 | Author: Marc Bacque
  • Stamford-based United Rentals is set to acquire Miami-based Neff Corp. for $1.3 billion

Investors sentiment decreased to 0.87 in Q4 2016. (NASDAQ:HEES) by 31.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). It also upped Priceline Grp Inc (NASDAQ:PCLN) stake by 11,680 shares and now owns 23,780 shares. (NASDAQ:HEES). Wexford Cap Limited Partnership owns 0.02% invested in H&E Equipment Services, Inc.

Several other large investors also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. now owns 2,391,042 shares of the industrial products company's stock worth $48,801,000 after buying an additional 263,383 shares in the last quarter. Thomson Horstmann And Bryant has 1.12% invested in H&E Equipment Services, Inc. BNP Paribas Arbitrage SA now owns 7,801 shares of the industrial products company's stock worth $159,000 after buying an additional 5,871 shares during the last quarter.

Neff stock traded up 1% premarket Thursday to $24.80. Victory Capital Management Inc. increased its position in H&E Equipment Services by 130.5% in the first quarter. First Mercantile Trust Co. now owns 6,163 shares of the industrial products company's stock worth $151,000 after buying an additional 1,628 shares during the last quarter. (NASDAQ:HEES). State Of Wisconsin Inv Board has invested 0.02% in H&E Equipment Services, Inc. Eagle Asset Mgmt stated it has 0.11% of its portfolio in H&E Equipment Services, Inc. The stock rose 0.95% or $0.2 reaching $21.29. (HEES) closed -3.96% below its 200-day moving average and is 0.51% above another chart threshold, its 50-day moving average. The company has market cap of $757.30 million.

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Before signing the merger agreement with United Rentals, Neff terminated a previously announced merger deal with H&E Equipment Services. The industrial products company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.07. With 277,300 avg volume, 7 days are for H&E Equipment Services Incorporated (NASDAQ:HEES)'s short sellers to cover HEES's short positions. The business had revenue of $249.40 million during the quarter, compared to analysts' expectations of $237.81 million. H&E Equipment Services's quarterly revenue was up 3.0% compared to the same quarter a year ago. During the same period in the prior year, the company posted $0.21 EPS. "(HEES) Position Decreased by OLD National Bancorp IN" was reported by Markets Daily and is the property of of Markets Daily. If you are reading this news story on another domain, it was copied illegally and republished in violation of USA & global copyright & trademark law. The legal version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/08/15/he-equipment-services-inc-nasdaqhees-stake-increased-by-moody-aldrich-partners-llc-updated-updated.html. Out of 3 Wall Street analysts rating H&E Equipment, 2 give it "Buy", 0 "Sell" rating, while 1 recommend "Hold".

Philadelphia Financial Management Of San Francisco Llc holds 1.79% of its portfolio in H&E Equipment Services, Inc. for 340,835 shares. ValuEngine upgraded H&E Equipment Services from a "hold" rating to a "buy" rating in a report on Monday. Finally, Royal Bank Of Canada reissued a buy rating on shares of H&E Equipment Services in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock.

H&E CEO John Engquist said the company will instead pursue "an accelerated strategy of greenfield expansion and opportunistic roll-up acquisitions which we believe will be a higher and better use for our resources".

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