Harvey Capital Management Inc. Sells 3,147 Shares of Herc Holdings Inc. (NYSE:HRI)

Harvey Capital Management Inc. reduced its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,508 shares of the transportation company's stock after selling 3,147 shares during the period. Harvey Capital Management Inc. owned approximately 0.07% of Herc worth $3,883,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FMR LLC lifted its stake in Herc by 8.3% during 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 in the last quarter. State Street Corp increased its position in shares of Herc by 0.5% during the 3rd quarter. State Street Corp now owns 665,904 shares of the transportation company's stock valued at $106,165,000 after purchasing an additional 3,006 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Herc by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 637,070 shares of the transportation company's stock valued at $101,589,000 after purchasing an additional 6,874 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Herc by 6.3% during 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 purchasing an additional 23,411 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in shares of Herc during the 4th quarter valued at $71,211,000. 93.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised their target price on Herc from $204.00 to $234.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on Herc from $200.00 to $240.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Finally, Barclays lifted their price objective on Herc from $175.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $219.75.

Herc Price Performance

NYSE HRI traded up $5.77 during trading hours on Friday, hitting $201.12. The company had a trading volume of 352,083 shares, compared to its average volume of 275,636. Herc Holdings Inc. has a 52 week low of $124.70 and a 52 week high of $246.88. The firm has a 50 day simple moving average of $198.87 and a 200 day simple moving average of $182.28. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.08 and a beta of 2.04.

Herc (NYSE:HRI - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.98 by ($0.40). The business had revenue of $934.00 million for the quarter, compared to the consensus estimate of $919.84 million. Herc had a net margin of 10.09% and a return on equity of 26.35%. Equities research analysts expect that Herc Holdings Inc. will post 13.48 earnings per share for the current year.

Herc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.70 dividend. This is an increase from Herc's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 1.39%. Herc's payout ratio is presently 21.75%.

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.