Bank of New York Mellon Corp Reduces Holdings in Herc Holdings Inc. (NYSE:HRI)

Bank of New York Mellon Corp cut its holdings in Herc Holdings Inc. (NYSE:HRI - Free Report) by 13.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 150,143 shares of the transportation company's stock after selling 22,409 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of Herc worth $28,427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HRI. Argent Capital Management LLC boosted its position in Herc by 38.2% during the 4th quarter. Argent Capital Management LLC now owns 6,907 shares of the transportation company's stock worth $1,308,000 after acquiring an additional 1,910 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Herc by 369.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 343 shares of the transportation company's stock valued at $55,000 after acquiring an additional 270 shares during the period. State Street Corp raised its stake in Herc by 0.5% in the 3rd quarter. State Street Corp now owns 665,904 shares of the transportation company's stock valued at $106,165,000 after acquiring an additional 3,006 shares during the period. TT International Asset Management LTD raised its stake in Herc by 324.6% in the 3rd quarter. TT International Asset Management LTD now owns 14,346 shares of the transportation company's stock valued at $2,287,000 after acquiring an additional 10,967 shares during the period. Finally, Motley Fool Wealth Management LLC raised its stake in Herc by 26.4% in the 3rd quarter. Motley Fool Wealth Management LLC now owns 82,863 shares of the transportation company's stock valued at $13,211,000 after acquiring an additional 17,315 shares during the period. 93.11% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group increased their price target on Herc from $204.00 to $234.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Herc has an average rating of "Hold" and an average target price of $219.75.

Herc Trading Down 4.8 %

Shares of Herc stock traded down $6.31 during midday trading on Monday, reaching $125.24. The company had a trading volume of 191,242 shares, compared to its average volume of 298,939. The stock has a fifty day moving average price of $184.91 and a 200 day moving average price of $185.03. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $3.56 billion, a PE ratio of 16.85, a P/E/G ratio of 1.61 and a beta of 2.14. Herc Holdings Inc. has a fifty-two week low of $124.63 and a fifty-two week high of $246.88.

Herc (NYSE:HRI - Get Free Report) last issued its earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share for the quarter, missing analysts' consensus estimates of $3.98 by ($0.40). Herc had a return on equity of 26.48% and a net margin of 5.91%. The firm had revenue of $934.00 million for the quarter, compared to analyst estimates of $919.84 million. On average, equities analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. This is a positive change from Herc's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Tuesday, February 18th. Herc's dividend payout ratio is presently 37.79%.

Herc Profile

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.