Bridgewater Associates LP Grows Stock Holdings in Herc Holdings Inc. (NYSE:HRI)

Bridgewater Associates LP increased its stake in Herc Holdings Inc. (NYSE:HRI - Free Report) by 461.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,922 shares of the transportation company's stock after acquiring an additional 19,659 shares during the period. Bridgewater Associates LP owned approximately 0.08% of Herc worth $3,814,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HRI. Signaturefd LLC grew its holdings in shares of Herc by 27.7% during the third quarter. Signaturefd LLC now owns 281 shares of the transportation company's stock worth $45,000 after buying an additional 61 shares during the last quarter. Chartwell Investment Partners LLC boosted its position in Herc by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 7,995 shares of the transportation company's stock worth $1,275,000 after purchasing an additional 65 shares during the period. MQS Management LLC boosted its position in Herc by 3.8% in the 3rd quarter. MQS Management LLC now owns 1,945 shares of the transportation company's stock valued at $310,000 after buying an additional 71 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Herc by 2.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 5,147 shares of the transportation company's stock valued at $686,000 after purchasing an additional 108 shares in the last quarter. Finally, Welch Group LLC raised its stake in shares of Herc by 1.9% in the 3rd quarter. Welch Group LLC now owns 6,200 shares of the transportation company's stock valued at $988,000 after purchasing an additional 118 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Trading Up 1.0 %

NYSE HRI traded up $2.25 during trading hours on Friday, hitting $232.00. 153,662 shares of the company's stock were exchanged, compared to its average volume of 342,804. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.89. Herc Holdings Inc. has a 1-year low of $119.74 and a 1-year high of $246.88. The stock has a 50-day simple moving average of $195.60 and a 200 day simple moving average of $159.35. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.33 and a beta of 2.02.

Herc (NYSE:HRI - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share for the quarter, missing analysts' consensus estimates of $4.48 by ($0.13). Herc had a net margin of 10.09% and a return on equity of 26.35%. The company had revenue of $965.00 million during the quarter, compared to the consensus estimate of $931.33 million. During the same quarter in the prior year, the business earned $4.00 EPS. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that Herc Holdings Inc. will post 13.59 EPS for the current fiscal year.

Insider Activity

In other news, SVP Samuel Wade Sheek sold 5,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $213.12, for a total transaction of $1,065,600.00. Following the transaction, the senior vice president now directly owns 21,586 shares of the company's stock, valued at $4,600,408.32. This represents a 18.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael A. Kelly sold 3,880 shares of the firm's stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $208.83, for a total value of $810,260.40. Following the completion of the transaction, the director now directly owns 13,774 shares in the company, valued at approximately $2,876,424.42. This represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on HRI. The Goldman Sachs Group increased their price objective on shares of Herc from $178.00 to $204.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Barclays upped their price target on Herc from $175.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their target price on Herc from $200.00 to $240.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $212.25.

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.