Franklin Resources Inc. Boosts Stock Position in Herc Holdings Inc. (NYSE:HRI)

Franklin Resources Inc. boosted its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 110.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,544 shares of the transportation company's stock after purchasing an additional 129,032 shares during the quarter. Franklin Resources Inc. owned about 0.86% of Herc worth $46,489,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Herc in the 4th quarter valued at about $183,786,000. Artemis Investment Management LLP purchased a new position in Herc during the 4th quarter worth $71,211,000. Hennessy Advisors Inc. purchased a new stake in Herc during the 4th quarter worth approximately $62,982,000. Allianz Asset Management GmbH increased its position in shares of Herc by 578.8% in the 4th quarter. Allianz Asset Management GmbH now owns 231,130 shares of the transportation company's stock valued at $43,760,000 after acquiring an additional 197,082 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Herc by 79.9% in the fourth quarter. JPMorgan Chase & Co. now owns 186,558 shares of the transportation company's stock worth $35,321,000 after purchasing an additional 82,834 shares during the last quarter. Institutional investors own 93.11% of the company's stock.

Herc Stock Performance

HRI traded down $10.40 on Thursday, reaching $118.51. The company had a trading volume of 67,441 shares, compared to its average volume of 344,862. The stock has a 50-day moving average price of $152.07 and a 200-day moving average price of $182.30. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.99. The stock has a market capitalization of $3.38 billion, a PE ratio of 15.98, a P/E/G ratio of 1.61 and a beta of 1.93. Herc Holdings Inc. has a 1 year low of $109.39 and a 1 year high of $246.88.

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Herc (NYSE:HRI - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The transportation company reported $3.58 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.40). The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $919.84 million. Herc had a net margin of 5.91% and a return on equity of 26.48%. As a group, research analysts forecast that Herc Holdings Inc. will post 12.84 EPS for the current fiscal 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 paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.36%. This is an increase from Herc's previous quarterly dividend of $0.67. Herc's dividend payout ratio (DPR) is currently 37.79%.

Wall Street Analysts Forecast Growth

HRI has been the subject of several recent research reports. Citigroup reduced their price target on Herc from $165.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday. The Goldman Sachs Group lowered their price target on Herc from $234.00 to $201.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Herc has a consensus rating of "Moderate Buy" and an average target price of $197.20.

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.