Massachusetts Financial Services Co. MA reduced its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 25.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,661 shares of the transportation company's stock after selling 67,077 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.68% of Herc worth $36,477,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in shares of Herc by 0.9% in the 4th 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 during the last quarter. Stifel Financial Corp grew 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 valued at $322,000 after buying an additional 80 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Herc by 53.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company's stock worth $44,000 after buying an additional 80 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in Herc by 0.4% in the fourth quarter. Salem Investment Counselors Inc. now owns 21,126 shares of the transportation company's stock valued at $4,000,000 after purchasing an additional 90 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Herc by 34.1% in the 4th quarter. Farther Finance Advisors LLC now owns 460 shares of the transportation company's stock valued at $87,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 93.11% of the company's stock.
Analyst Upgrades and Downgrades
HRI has been the subject of a number of research analyst reports. Citigroup dropped their target price on shares of Herc from $165.00 to $140.00 and set a "buy" rating for the company in a report on Tuesday. The Goldman Sachs Group reduced their target price on shares of Herc from $234.00 to $201.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Herc currently has an average rating of "Moderate Buy" and an average price target of $197.20.
Get Our Latest Stock Report on HRI
Herc Stock Down 9.6 %
Shares of NYSE:HRI traded down $12.42 during trading on Thursday, hitting $116.50. The company's stock had a trading volume of 84,085 shares, compared to its average volume of 344,939. Herc Holdings Inc. has a fifty-two week low of $109.39 and a fifty-two week high of $246.88. The stock's 50-day moving average price is $152.07 and its two-hundred day moving average price is $182.30. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $3.32 billion, a PE ratio of 15.82, a PEG ratio of 1.61 and a beta of 1.93.
Herc (NYSE:HRI - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share 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 company had revenue of $934.00 million for the quarter, compared to analyst estimates of $919.84 million. As a group, sell-side analysts expect 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. Investors of record on Tuesday, February 18th were issued a $0.70 dividend. This is a positive change from Herc's previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a yield of 2.40%. The ex-dividend date was Tuesday, February 18th. Herc's payout ratio is currently 37.79%.
About Herc
(
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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