Summit Global Investments Lowers Holdings in Herc Holdings Inc. (NYSE:HRI)

Summit Global Investments trimmed its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 38.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,797 shares of the transportation company's stock after selling 3,562 shares during the period. Summit Global Investments' holdings in Herc were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in HRI. Jones Financial Companies Lllp lifted its stake in Herc by 878.9% during the fourth quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company's stock worth $35,000 after purchasing an additional 167 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Herc by 54.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company's stock worth $70,000 after purchasing an additional 130 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Herc during the 3rd quarter worth approximately $80,000. Farther Finance Advisors LLC boosted 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 in the last quarter. Finally, Venturi Wealth Management LLC boosted 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 valued at $140,000 after buying an additional 626 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several brokerages recently commented on HRI. The Goldman Sachs Group cut their price target on shares of Herc from $234.00 to $201.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Citigroup started coverage on Herc in a research report on Monday. They set 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 MarketBeat.com, Herc has an average rating of "Moderate Buy" and an average price target of $202.20.

Herc Stock Performance

HRI stock traded up $0.34 on Tuesday, hitting $143.09. The company's stock had a trading volume of 288,013 shares, compared to its average volume of 315,979. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. The firm has a 50 day moving average of $172.82 and a two-hundred day moving average of $184.11. 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 1 year low of $119.60 and a 1 year high of $246.88.

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 net margin of 5.91% and a return on equity of 26.48%. The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $919.84 million. Equities analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 18th. This is an increase from Herc's previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a yield of 1.96%. Herc's dividend payout ratio is currently 37.79%.

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.