Harvey Capital Management Inc. Acquires 4,538 Shares of Herc Holdings Inc. (NYSE:HRI)

Harvey Capital Management Inc. grew its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 23.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,655 shares of the transportation company's stock after acquiring an additional 4,538 shares during the period. Harvey Capital Management Inc. owned 0.08% of Herc worth $3,771,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC raised its position in Herc by 27.7% in the 3rd quarter. Signaturefd LLC now owns 281 shares of the transportation company's stock worth $45,000 after purchasing an additional 61 shares during the last quarter. SummerHaven Investment Management LLC raised its position in Herc by 2.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 5,147 shares of the transportation company's stock worth $686,000 after purchasing an additional 108 shares during the last quarter. Welch Group LLC raised its position in Herc by 1.9% in the 3rd quarter. Welch Group LLC now owns 6,200 shares of the transportation company's stock worth $988,000 after purchasing an additional 118 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Herc by 3.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,086 shares of the transportation company's stock worth $811,000 after purchasing an additional 178 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in Herc by 5.2% in the 2nd quarter. Mackenzie Financial Corp now owns 3,758 shares of the transportation company's stock worth $501,000 after purchasing an additional 185 shares during the last quarter. Institutional investors own 93.11% of the company's stock.

Herc Trading Up 0.5 %

Shares of HRI stock traded up $1.03 on Friday, hitting $210.17. The stock had a trading volume of 370,951 shares, compared to its average volume of 421,565. Herc Holdings Inc. has a twelve month low of $108.50 and a twelve month high of $214.62. The firm has a market cap of $5.97 billion, a P/E ratio of 17.18, a PEG ratio of 1.20 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. The company has a fifty day moving average price of $162.94 and a two-hundred day moving average price of $149.18.

Herc (NYSE:HRI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.13). Herc had a net margin of 10.09% and a return on equity of 26.35%. The firm had revenue of $965.00 million during the quarter, compared to analyst estimates of $931.33 million. During the same period last year, the firm earned $4.00 EPS. Herc's quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts forecast that Herc Holdings Inc. will post 13.59 earnings per share for the current fiscal year.

Herc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, August 22nd. Herc's dividend payout ratio (DPR) is 21.75%.

Insider Activity

In related news, COO Aaron Birnbaum sold 10,000 shares of the company's 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 transaction, the chief operating officer now directly owns 38,232 shares of the company's stock, valued at approximately $5,609,016.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Michael A. Kelly sold 3,880 shares of the company's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $208.83, for a total value of $810,260.40. Following the completion of the transaction, the director now directly owns 13,774 shares of the company's stock, valued at approximately $2,876,424.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aaron Birnbaum sold 10,000 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the completion of the transaction, the chief operating officer now directly owns 38,232 shares of the company's stock, valued at approximately $5,609,016.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,880 shares of company stock valued at $3,342,960 in the last quarter. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Herc from a "buy" rating to a "hold" rating in a research report on Friday, July 12th. JPMorgan Chase & Co. lifted their target price on shares of Herc from $200.00 to $240.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Barclays lifted their target price on shares of Herc from $175.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Robert W. Baird reaffirmed a "neutral" rating and set a $155.00 target price on shares of Herc in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group lifted their target price on shares of Herc from $178.00 to $204.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $212.25.

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.