Jennison Associates LLC Decreases Holdings in Herc Holdings Inc. (NYSE:HRI)

Jennison Associates LLC cut its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,834 shares of the transportation company's stock after selling 5,779 shares during the quarter. Jennison Associates LLC owned approximately 0.59% of Herc worth $31,587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. KBC Group NV raised its holdings in Herc by 34.7% during the fourth quarter. KBC Group NV now owns 1,150 shares of the transportation company's stock worth $218,000 after buying an additional 296 shares during the last quarter. Eagle Wealth Strategies LLC acquired a new position in Herc during the fourth quarter worth $235,000. Atomi Financial Group Inc. raised its holdings in Herc by 43.8% during the fourth quarter. Atomi Financial Group Inc. now owns 1,970 shares of the transportation company's stock worth $373,000 after buying an additional 600 shares during the last quarter. Artemis Investment Management LLP acquired a new position in Herc during the fourth quarter worth $71,211,000. Finally, Hennessy Advisors Inc. acquired a new position in Herc during the fourth quarter worth $62,982,000. 93.11% of the stock is owned by institutional investors.

Herc Stock Down 2.1 %

Shares of HRI stock traded down $4.38 on Friday, hitting $205.01. The stock had a trading volume of 140,002 shares, compared to its average volume of 275,636. The business has a 50 day moving average of $200.92 and a 200 day moving average of $180.85. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 1.08 and a beta of 2.04. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.22 and a quick ratio of 1.22. Herc Holdings Inc. has a 12-month low of $124.70 and a 12-month high of $246.88.

Herc Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, February 18th. This is an increase from Herc's previous quarterly dividend of $0.67. Herc's dividend payout ratio (DPR) is 21.75%.

Wall Street Analyst Weigh In

HRI has been the topic of several research reports. Barclays upped their price objective on shares of Herc from $175.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Herc from $200.00 to $240.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their target price on shares of Herc from $204.00 to $234.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Three 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 stock has a consensus rating of "Hold" and an average price target of $219.75.

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.