Channing Capital Management LLC Sells 123,465 Shares of Herc Holdings Inc. (NYSE:HRI)

Channing Capital Management LLC trimmed its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 22.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 419,345 shares of the transportation company's stock after selling 123,465 shares during the period. Herc comprises approximately 2.1% of Channing Capital Management LLC's investment portfolio, making the stock its 19th largest holding. Channing Capital Management LLC owned 1.48% of Herc worth $79,395,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HRI. Artemis Investment Management LLP bought a new stake in shares of Herc during the 4th quarter worth $71,211,000. Hennessy Advisors Inc. bought a new stake in shares of Herc during the 4th quarter worth $62,982,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Herc during the 3rd quarter worth $35,996,000. Allianz Asset Management GmbH raised its stake in shares of Herc by 578.8% during the 4th quarter. Allianz Asset Management GmbH now owns 231,130 shares of the transportation company's stock worth $43,760,000 after purchasing an additional 197,082 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Herc by 117.3% during the 3rd quarter. Franklin Resources Inc. now owns 116,512 shares of the transportation company's stock worth $19,739,000 after purchasing an additional 62,883 shares during the period. 93.11% of the stock is currently owned by institutional investors.

Herc Stock Performance

HRI traded up $7.21 during trading hours on Friday, hitting $129.46. The stock had a trading volume of 527,103 shares, compared to its average volume of 307,620. The company's fifty day simple moving average is $179.84 and its 200 day simple moving average is $183.95. Herc Holdings Inc. has a 1 year low of $119.60 and a 1 year high of $246.88. The stock has a market cap of $3.68 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.99.

Remove Ads

Herc (NYSE:HRI - Get Free Report) last posted 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). The company had revenue of $934.00 million for the quarter, compared to analysts' expectations of $919.84 million. Herc had a net margin of 5.91% and a return on equity of 26.48%. Equities analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Herc's previous quarterly dividend of $0.67. Herc's payout ratio is presently 37.79%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lifted their price objective on Herc from $204.00 to $234.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Herc has an average rating of "Hold" and an average price target of $219.75.

About Herc

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.