Herc Holdings Inc. (NYSE:HRI) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 634,151 shares of the transportation company's stock after selling 2,919 shares during the period. Geode Capital Management LLC owned approximately 2.23% of Herc worth $120,093,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Herc in the 4th quarter worth about $183,786,000. Artemis Investment Management LLP acquired a new stake in Herc during the 4th quarter worth approximately $71,211,000. Hennessy Advisors Inc. purchased a new position in Herc in the fourth quarter valued at approximately $62,982,000. Allianz Asset Management GmbH lifted its position in Herc by 578.8% during the fourth quarter. Allianz Asset Management GmbH now owns 231,130 shares of the transportation company's stock valued at $43,760,000 after buying an additional 197,082 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Herc by 110.7% during the fourth quarter. Franklin Resources Inc. now owns 245,544 shares of the transportation company's stock worth $46,489,000 after buying an additional 129,032 shares during the period. Institutional investors and hedge funds own 93.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HRI. Citigroup reduced their target price on shares of Herc from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reduced their price objective 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $197.20.

Remove Ads

Herc Stock Up 2.3 %

HRI stock traded up $2.69 during trading on Monday, reaching $117.66. The stock had a trading volume of 45,475 shares, compared to its average volume of 347,807. The firm has a fifty day moving average price of $148.68 and a 200 day moving average price of $181.89. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. The company has a market capitalization of $3.35 billion, a P/E ratio of 15.88, a PEG 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.

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). Herc had a return on equity of 26.48% and a net margin of 5.91%. The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $919.84 million. On average, 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 declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.38%. This is an increase from Herc's previous quarterly dividend of $0.67. Herc's dividend payout ratio (DPR) is presently 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.