Exane Derivatives lowered its holdings in shares of Herc Holdings Inc. (NYSE:HRI – Get Rating) by 40.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,197 shares of the transportation company's stock after selling 810 shares during the quarter. Exane Derivatives' holdings in Herc were worth $108,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Hellman Jordan Management Co. Inc. MA boosted its holdings in Herc by 105.1% during the 1st quarter. Hellman Jordan Management Co. Inc. MA now owns 15,386 shares of the transportation company's stock valued at $2,571,000 after acquiring an additional 7,886 shares during the period. Bank of America Corp DE lifted its holdings in shares of Herc by 31.3% in the 1st quarter. Bank of America Corp DE now owns 642,919 shares of the transportation company's stock worth $107,425,000 after buying an additional 153,362 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Herc by 21.3% in the 1st quarter. Advisors Asset Management Inc. now owns 3,573 shares of the transportation company's stock worth $597,000 after buying an additional 627 shares during the period. Salem Investment Counselors Inc. purchased a new stake in shares of Herc in the 1st quarter worth $109,000. Finally, Shellback Capital LP purchased a new stake in shares of Herc in the 1st quarter worth $4,299,000. Hedge funds and other institutional investors own 94.67% of the company's stock.
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Analysts Set New Price Targets
HRI has been the subject of several research reports. The Goldman Sachs Group lowered their target price on Herc from $205.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, June 23rd. Wells Fargo & Company lowered their target price on Herc to $165.00 in a report on Friday, July 22nd. Finally, KeyCorp upped their target price on Herc from $130.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday, August 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $178.83.
Herc Trading Down 0.3 %
HRI opened at $113.19 on Wednesday. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.40 and a beta of 2.69. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.45. Herc Holdings Inc. has a 12 month low of $83.43 and a 12 month high of $203.14. The stock has a fifty day moving average price of $114.98 and a 200-day moving average price of $122.11.
Herc (NYSE:HRI – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The transportation company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.11). Herc had a return on equity of 28.42% and a net margin of 11.76%. The company had revenue of $640.40 million during the quarter, compared to the consensus estimate of $631.11 million. During the same period in the previous year, the firm posted $1.57 earnings per share. The company's revenue was up 30.6% on a year-over-year basis. As a group, equities research analysts anticipate that Herc Holdings Inc. will post 11.81 earnings per share for the current fiscal year.
Herc Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, August 18th. Herc's dividend payout ratio is currently 25.47%.
Herc Profile
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Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.
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