Phocas Financial Corp. Cuts Stock Position in Herc Holdings Inc. (NYSE:HRI)

Phocas Financial Corp. reduced its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 5.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,097 shares of the transportation company's stock after selling 2,896 shares during the quarter. Phocas Financial Corp. owned approximately 0.16% of Herc worth $7,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HRI. Whalen Wealth Management Inc. bought a new stake in shares of Herc in the 3rd quarter worth approximately $771,000. Pathstone Holdings LLC raised its position in Herc by 2.5% in the 3rd quarter. Pathstone Holdings LLC now owns 21,679 shares of the transportation company's stock worth $3,456,000 after buying an additional 522 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Herc by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 55,960 shares of the transportation company's stock valued at $8,922,000 after acquiring an additional 236 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Herc in the third quarter worth approximately $35,996,000. Finally, Natixis Advisors LLC bought a new position in shares of Herc during the 3rd quarter valued at $3,891,000. Hedge funds and other institutional investors own 93.11% of the company's stock.

Insiders Place Their Bets

In other Herc news, Director Michael A. Kelly sold 3,880 shares of Herc 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 sale, the director now owns 13,774 shares in the company, valued at $2,876,424.42. The trade was a 21.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Aaron Birnbaum sold 10,000 shares of Herc stock in a transaction on Monday, August 26th. The shares were sold at an average price of $146.71, for a total value of $1,467,100.00. Following the completion of the sale, the chief operating officer now owns 38,232 shares in the company, valued at $5,609,016.72. This represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,880 shares of company stock valued at $3,342,960 in the last 90 days. 1.70% of the stock is owned by insiders.

Herc Stock Down 0.5 %

Shares of HRI traded down $1.05 during mid-day trading on Tuesday, hitting $216.44. The company's stock had a trading volume of 156,050 shares, compared to its average volume of 251,546. The company's 50-day moving average is $181.19 and its 200-day moving average is $154.83. Herc Holdings Inc. has a 52-week low of $119.08 and a 52-week high of $246.88. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.25 and a beta of 2.02. 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 (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 the consensus estimate of $4.48 by ($0.13). Herc had a return on equity of 26.35% and a net margin of 10.09%. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $931.33 million. During the same quarter in the previous year, the firm posted $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 forecast that Herc Holdings Inc. will post 13.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HRI shares. JPMorgan Chase & Co. lifted their target price on Herc from $200.00 to $240.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Robert W. Baird reiterated a "neutral" rating and set a $155.00 target price on shares of Herc in a research report on Tuesday, July 23rd. The Goldman Sachs Group upped their price target on Herc from $178.00 to $204.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Barclays upped their target price on shares of Herc from $175.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Four 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, Herc presently has a consensus rating of "Hold" and a consensus target price of $212.25.

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.