Phocas Financial Corp. Cuts Stock Holdings in Herc Holdings Inc. (NYSE:HRI)

Phocas Financial Corp. lessened its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 85.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,912 shares of the transportation company's stock after selling 39,185 shares during the quarter. Herc accounts for 1.0% of Phocas Financial Corp.'s portfolio, making the stock its 28th largest position. Phocas Financial Corp.'s holdings in Herc were worth $1,309,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of Herc by 27.7% in the 3rd quarter. Signaturefd LLC now owns 281 shares of the transportation company's stock worth $45,000 after acquiring an additional 61 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Herc by 70.4% in the 3rd quarter. Covestor Ltd now owns 322 shares of the transportation company's stock worth $51,000 after acquiring an additional 133 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Herc by 369.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 343 shares of the transportation company's stock worth $55,000 after acquiring an additional 270 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Herc in the 3rd quarter worth about $80,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Herc by 564.0% in the 4th quarter. Venturi Wealth Management LLC now owns 737 shares of the transportation company's stock worth $140,000 after acquiring an additional 626 shares during the last quarter. Institutional investors own 93.11% of the company's stock.

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Herc Trading Down 1.0 %

HRI traded down $1.45 on Friday, reaching $143.60. 521,830 shares of the company traded hands, compared to its average volume of 292,793. Herc Holdings Inc. has a one year low of $124.70 and a one year high of $246.88. The firm has a fifty day simple moving average of $190.84 and a two-hundred day simple moving average of $184.47. The company has a market cap of $4.09 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 1.61 and a beta of 2.04. 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 quarterly earnings data 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 net margin of 5.91% and a return on equity of 26.48%. The company had revenue of $934.00 million for the quarter, compared to the consensus estimate of $919.84 million. As a group, equities research analysts expect that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.70 per share. This is a positive change from Herc's previous quarterly dividend of $0.67. The ex-dividend date is Tuesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 1.95%. Herc's dividend payout ratio (DPR) is presently 37.79%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their target price on shares of Herc from $204.00 to $234.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $219.75.

Herc 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.