JPMorgan Chase & Co. Acquires 82,834 Shares of Herc Holdings Inc. (NYSE:HRI)

JPMorgan Chase & Co. boosted its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 79.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 186,558 shares of the transportation company's stock after buying an additional 82,834 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.66% of Herc worth $35,321,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of HRI. Artemis Investment Management LLP acquired a new stake in Herc in the 4th quarter worth $71,211,000. Hennessy Advisors Inc. bought a new position in Herc during the fourth quarter valued at about $62,982,000. Allianz Asset Management GmbH raised its holdings in Herc by 578.8% in the 4th quarter. Allianz Asset Management GmbH now owns 231,130 shares of the transportation company's stock valued at $43,760,000 after acquiring an additional 197,082 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Herc by 117.3% in the 3rd quarter. Franklin Resources Inc. now owns 116,512 shares of the transportation company's stock worth $19,739,000 after acquiring an additional 62,883 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of Herc during the fourth quarter valued at approximately $5,523,000. Institutional investors own 93.11% of the company's stock.

Herc Price Performance

Shares of HRI traded down $3.18 during trading hours on Friday, hitting $114.63. The stock had a trading volume of 727,110 shares, compared to its average volume of 348,692. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.61 and a beta of 1.93. Herc Holdings Inc. has a 52 week low of $109.39 and a 52 week high of $246.88. The company's fifty day moving average is $148.68 and its two-hundred day moving average is $181.72. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.38 and a quick ratio of 1.38.

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Herc (NYSE:HRI - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The transportation company reported $3.58 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.40). Herc had a return on equity of 26.48% and a net margin of 5.91%. The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $919.84 million. On average, analysts anticipate that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.44%. This is a positive change from Herc's previous quarterly dividend of $0.67. The ex-dividend date was Tuesday, February 18th. Herc's dividend payout ratio (DPR) is presently 37.79%.

Analysts Set New Price Targets

HRI has been the subject of several research reports. The Goldman Sachs Group reduced their target price on Herc from $234.00 to $201.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Citigroup lowered their target price on shares of Herc from $165.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $197.20.

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.