Herc Holdings Inc. (NYSE:HRI) Holdings Lowered by Summit Global Investments

Summit Global Investments trimmed its position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 38.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in Herc by 8.3% in the 3rd quarter. FMR LLC now owns 736,809 shares of the transportation company's stock valued at $117,470,000 after buying an additional 56,191 shares during the last quarter. State Street Corp boosted its holdings in Herc by 0.5% in the third quarter. State Street Corp now owns 665,904 shares of the transportation company's stock valued at $106,165,000 after purchasing an additional 3,006 shares during the last quarter. Geode Capital Management LLC grew its stake in Herc by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 637,070 shares of the transportation company's stock valued at $101,589,000 after purchasing an additional 6,874 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Herc by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 395,229 shares of the transportation company's stock worth $63,011,000 after purchasing an additional 23,411 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in shares of Herc in the 4th quarter valued at approximately $71,211,000. Hedge funds and other institutional investors own 93.11% of the company's stock.

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Herc Stock Performance

Shares of Herc stock traded down $1.31 on Thursday, reaching $139.50. 419,626 shares of the company were exchanged, compared to its average volume of 319,577. Herc Holdings Inc. has a 1-year low of $119.60 and a 1-year high of $246.88. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.61 and a beta of 2.14. 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's 50-day moving average is $170.45 and its two-hundred day moving average is $183.88.

Herc (NYSE:HRI - Get Free Report) last issued its earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $919.84 million. As a group, research analysts expect that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal 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 given a $0.70 dividend. 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 2.01%. Herc's dividend payout ratio (DPR) is currently 37.79%.

Wall Street Analysts Forecast Growth

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