Chiron Investment Management LLC bought a new stake in Herc Holdings Inc. (NYSE:HRI – Get Rating) in the 1st quarter, Holdings Channel.com reports. The fund bought 6,682 shares of the transportation company's stock, valued at approximately $1,116,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Impax Asset Management Group plc boosted its position in shares of Herc by 20.7% in the 4th quarter. Impax Asset Management Group plc now owns 1,327,929 shares of the transportation company's stock worth $206,994,000 after purchasing an additional 227,854 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Herc in the 1st quarter worth $18,409,000. Aaron Wealth Advisors LLC bought a new position in shares of Herc in the 1st quarter worth $552,000. AGF Investments Inc. lifted its holdings in Herc by 166,566.7% during the first quarter. AGF Investments Inc. now owns 85,000 shares of the transportation company's stock worth $14,203,000 after acquiring an additional 84,949 shares in the last quarter. Finally, Eaton Vance Management lifted its holdings in Herc by 20.9% during the fourth quarter. Eaton Vance Management now owns 425,305 shares of the transportation company's stock worth $66,581,000 after acquiring an additional 73,661 shares in the last quarter. 94.67% of the stock is owned by institutional investors and hedge funds.
Get Herc alerts:Herc Stock Up 1.8 %
Shares of Herc stock traded up $2.08 during trading on Friday, reaching $119.68. The stock had a trading volume of 496 shares, compared to its average volume of 158,265. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 0.41 and a beta of 2.69. The stock has a fifty day moving average price of $111.23 and a two-hundred day moving average price of $124.50. Herc Holdings Inc. has a 52 week low of $83.43 and a 52 week high of $203.14. 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 (NYSE:HRI – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The transportation company reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $2.58 by ($0.11). The firm had revenue of $640.40 million during the quarter, compared to the consensus estimate of $631.11 million. Herc had a net margin of 11.76% and a return on equity of 28.42%. The business's revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.57 earnings per share. Sell-side analysts predict that Herc Holdings Inc. will post 11.81 EPS for the current fiscal year.Herc Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Thursday, August 18th. Herc's dividend payout ratio is currently 25.47%.
Analysts Set New Price Targets
Several research firms have weighed in on HRI. The Goldman Sachs Group reduced their target price on Herc from $205.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, June 23rd. KeyCorp lifted 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. Finally, Wells Fargo & Company reduced their target price on Herc to $165.00 in a report on Friday, July 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $178.83.
About Herc
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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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