Norges Bank Acquires Shares of 970,716 Herc Holdings Inc. (NYSE:HRI)

Norges Bank purchased a new stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 970,716 shares of the transportation company's stock, valued at approximately $183,786,000. Norges Bank owned approximately 3.42% of Herc as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HRI. Artemis Investment Management LLP purchased a new stake in shares of Herc in the 4th quarter valued at $71,211,000. Hennessy Advisors Inc. purchased a new stake in Herc during the fourth quarter valued at about $62,982,000. Allianz Asset Management GmbH boosted its position in Herc by 578.8% during the fourth quarter. Allianz Asset Management GmbH now owns 231,130 shares of the transportation company's stock valued at $43,760,000 after buying an additional 197,082 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Herc by 79.9% during the fourth quarter. JPMorgan Chase & Co. now owns 186,558 shares of the transportation company's stock valued at $35,321,000 after buying an additional 82,834 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Herc by 117.3% in the third quarter. Franklin Resources Inc. now owns 116,512 shares of the transportation company's stock worth $19,739,000 after buying an additional 62,883 shares during the period. Institutional investors own 93.11% of the company's stock.

Herc Trading Down 5.7 %

NYSE HRI traded down $7.39 on Friday, hitting $122.47. The company's stock had a trading volume of 828,480 shares, compared to its average volume of 338,945. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. Herc Holdings Inc. has a 52-week low of $114.70 and a 52-week high of $246.88. The firm has a market cap of $3.49 billion, a P/E ratio of 16.53, a PEG ratio of 1.61 and a beta of 1.93. The company's 50-day simple moving average is $160.31 and its 200 day simple moving average is $183.49.

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Herc (NYSE:HRI - Get Free Report) last announced its quarterly 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 business had revenue of $934.00 million during the quarter, compared to analysts' expectations of $919.84 million. Herc had a return on equity of 26.48% and a net margin of 5.91%. Research analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.80 annualized dividend and a dividend yield of 2.29%. This is a boost from Herc's previous quarterly dividend of $0.67. Herc's payout ratio is currently 37.79%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HRI. The Goldman Sachs Group reduced their price target on Herc from $234.00 to $201.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Citigroup initiated coverage on shares of Herc in a report on Monday, March 24th. They issued a "buy" rating and a $165.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $202.20.

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.