Massachusetts Financial Services Co. MA Sells 7,311 Shares of Herc Holdings Inc. (NYSE:HRI)

Massachusetts Financial Services Co. MA trimmed its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259,738 shares of the transportation company's stock after selling 7,311 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.91% of Herc worth $41,410,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its holdings in Herc by 232.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 14,618 shares of the transportation company's stock worth $2,461,000 after buying an additional 10,217 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Herc by 175.4% during the 1st quarter. Janus Henderson Group PLC now owns 35,038 shares of the transportation company's stock worth $5,897,000 after buying an additional 22,316 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Herc by 13.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 43,934 shares of the transportation company's stock worth $7,394,000 after buying an additional 5,150 shares in the last quarter. Grandeur Peak Global Advisors LLC lifted its holdings in Herc by 10.5% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 50,140 shares of the transportation company's stock worth $8,439,000 after buying an additional 4,761 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in Herc during the 1st quarter worth $990,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Herc Stock Up 2.9 %

HRI stock traded up $6.41 during trading hours on Monday, reaching $229.33. 332,190 shares of the stock were exchanged, compared to its average volume of 252,308. The firm's 50-day moving average is $187.77 and its 200-day moving average is $156.77. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.28 and a beta of 2.02. 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 $119.08 and a 12 month high of $246.88.

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

Insider Transactions at Herc

In related news, SVP Samuel Wade Sheek sold 5,000 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total value of $1,065,600.00. Following the completion of the sale, the senior vice president now directly owns 21,586 shares in the company, valued at approximately $4,600,408.32. This trade represents a 18.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael A. Kelly sold 3,880 shares of the firm's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $208.83, for a total transaction of $810,260.40. Following the completion of the sale, the director now owns 13,774 shares of the company's stock, valued at $2,876,424.42. This trade represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

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.