Herc Holdings Inc. (NYSE:HRI) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC lessened its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 31.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,059 shares of the transportation company's stock after selling 9,750 shares during the period. First Eagle Investment Management LLC owned approximately 0.07% of Herc worth $3,987,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its position in shares of Herc by 8.3% in the 3rd quarter. FMR LLC now owns 736,809 shares of the transportation company's stock valued at $117,470,000 after acquiring an additional 56,191 shares during the period. State Street Corp increased its position in shares of 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. Geode Capital Management LLC increased its position in shares of Herc by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 637,070 shares of the transportation company's stock valued at $101,589,000 after acquiring an additional 6,874 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Herc by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 395,229 shares of the transportation company's stock valued at $63,011,000 after acquiring an additional 23,411 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in shares of Herc in the 4th quarter valued at $71,211,000. 93.11% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group cut their target price on Herc from $234.00 to $201.00 and set a "buy" rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $211.50.

Herc Stock Performance

HRI traded up $2.38 during midday trading on Thursday, hitting $135.09. 473,767 shares of the company were exchanged, compared to its average volume of 311,738. The company's 50 day simple moving average is $175.41 and its 200 day simple moving average is $183.82. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. 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 Holdings Inc. has a 1-year low of $119.60 and a 1-year high of $246.88.

Herc (NYSE:HRI - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.40). The company had revenue of $934.00 million for the quarter, compared to analyst estimates of $919.84 million. Herc had a return on equity of 26.48% and a net margin of 5.91%. As a group, sell-side analysts predict 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. Shareholders of record on Tuesday, February 18th were given a dividend of $0.70 per share. This is an increase from Herc's previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a yield of 2.07%. The ex-dividend date was Tuesday, February 18th. Herc's dividend payout ratio (DPR) is currently 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.