Invesco Ltd. cut its holdings in Herc Holdings Inc. (NYSE:HRI - Free Report) by 29.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,459,235 shares of the transportation company's stock after selling 600,197 shares during the quarter. Invesco Ltd. owned 5.14% of Herc worth $276,277,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in shares of Herc by 0.9% during the fourth quarter. Arizona State Retirement System now owns 7,829 shares of the transportation company's stock valued at $1,482,000 after purchasing an additional 68 shares in the last quarter. Stifel Financial Corp raised its position in Herc by 4.1% in the 3rd quarter. Stifel Financial Corp now owns 2,019 shares of the transportation company's stock worth $322,000 after buying an additional 80 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Herc by 53.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company's stock valued at $44,000 after acquiring an additional 80 shares during the period. Salem Investment Counselors Inc. boosted its holdings in shares of Herc by 0.4% during the 4th quarter. Salem Investment Counselors Inc. now owns 21,126 shares of the transportation company's stock valued at $4,000,000 after acquiring an additional 90 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Herc by 34.1% in the fourth quarter. Farther Finance Advisors LLC now owns 460 shares of the transportation company's stock worth $87,000 after acquiring an additional 117 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday. The Goldman Sachs Group lowered their price target on Herc from $234.00 to $201.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Finally, Citigroup dropped their price target on Herc from $165.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $177.20.
Read Our Latest Research Report on Herc
Herc Stock Performance
HRI traded up $0.55 during trading on Wednesday, hitting $118.15. The company's stock had a trading volume of 79,595 shares, compared to its average volume of 508,313. The business's 50 day simple moving average is $145.11 and its 200-day simple moving average is $181.17. The firm has a market cap of $3.37 billion, a PE ratio of 15.94, a P/E/G ratio of 1.61 and a beta of 1.93. Herc Holdings Inc. has a one year low of $109.39 and a one year high of $246.88. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.99.
Herc (NYSE:HRI - Get Free Report) last announced its earnings results on Thursday, February 13th. The transportation company reported $3.58 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.40). The company had revenue of $934.00 million during the quarter, compared to the consensus estimate of $919.84 million. Herc had a return on equity of 26.48% and a net margin of 5.91%. As a group, sell-side analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.
Herc Increases Dividend
The business also recently disclosed 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. This is a boost from Herc's previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Tuesday, February 18th. Herc's payout ratio is presently 37.79%.
Herc Profile
(
Free Report)
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.
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