Cartenna Capital LP Invests $20.49 Million in Herc Holdings Inc. (NYSE:HRI)

Cartenna Capital LP bought a new position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 108,243 shares of the transportation company's stock, valued at approximately $20,494,000. Herc makes up approximately 1.0% of Cartenna Capital LP's portfolio, making the stock its 26th largest position. Cartenna Capital LP owned 0.38% of Herc at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its stake in Herc by 878.9% in the fourth quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company's stock valued at $35,000 after purchasing an additional 167 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Herc by 53.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company's stock valued at $44,000 after buying an additional 80 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Herc by 54.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company's stock valued at $70,000 after acquiring an additional 130 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Herc by 34.1% during the fourth quarter. Farther Finance Advisors LLC now owns 460 shares of the transportation company's stock worth $87,000 after purchasing an additional 117 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Herc by 564.0% in the 4th quarter. Venturi Wealth Management LLC now owns 737 shares of the transportation company's stock valued at $140,000 after purchasing an additional 626 shares during the period. Hedge funds and other institutional investors own 93.11% of the company's stock.

Wall Street Analysts Forecast Growth

HRI has been the topic of a number of recent research reports. Citigroup dropped their price objective on shares of Herc from $165.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird dropped their price target on Herc from $129.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday. The Goldman Sachs Group reaffirmed a "buy" rating and set a $146.00 price objective (down from $171.00) on shares of Herc in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their target price on Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $157.20.

Herc Price Performance

Shares of HRI opened at $104.87 on Thursday. The firm has a market capitalization of $2.99 billion, a PE ratio of 14.15, a P/E/G ratio of 1.61 and a beta of 1.93. The stock's 50 day moving average is $134.13 and its two-hundred day moving average is $179.09. Herc Holdings Inc. has a twelve month low of $96.19 and a twelve month high of $246.88. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99.

Herc (NYSE:HRI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($1.21). The business had revenue of $861.00 million during the quarter, compared to analysts' expectations of $841.67 million. Herc had a net margin of 5.91% and a return on equity of 26.48%. During the same quarter last year, the firm earned $2.36 earnings per share. Research analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Herc's previous quarterly dividend of $0.67. Herc's dividend payout ratio (DPR) is currently 37.79%.

Herc Company 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.

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