T. Rowe Price Investment Management Inc. Decreases Stock Holdings in Herc Holdings Inc. (NYSE:HRI)

T. Rowe Price Investment Management Inc. cut its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 18.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,093 shares of the transportation company's stock after selling 117,232 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.83% of Herc worth $98,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Argent Capital Management LLC raised its holdings in Herc by 38.2% in the 4th quarter. Argent Capital Management LLC now owns 6,907 shares of the transportation company's stock valued at $1,308,000 after acquiring an additional 1,910 shares during the period. Proficio Capital Partners LLC bought a new stake in Herc during the fourth quarter worth $5,377,000. Hennessy Advisors Inc. acquired a new position in Herc during the 4th quarter worth approximately $62,982,000. Orion Portfolio Solutions LLC grew its holdings in shares of Herc by 12.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,784 shares of the transportation company's stock worth $527,000 after purchasing an additional 315 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Herc by 49.5% during the third quarter. Barclays PLC now owns 52,058 shares of the transportation company's stock valued at $8,299,000 after acquiring an additional 17,236 shares during the last quarter. 93.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on HRI shares. JPMorgan Chase & Co. dropped their price target on shares of Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Robert W. Baird lowered their target price on shares of Herc from $129.00 to $110.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group reissued a "buy" rating and set a $146.00 price target (down from $171.00) on shares of Herc in a research report on Tuesday, April 22nd. Barclays lowered their target price on Herc from $250.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, Citigroup dropped their price objective on Herc from $165.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.20.

Herc Price Performance

NYSE HRI traded down $3.58 during trading hours on Tuesday, hitting $107.53. The company had a trading volume of 499,729 shares, compared to its average volume of 361,824. The firm has a 50 day simple moving average of $129.43 and a 200 day simple moving average of $178.20. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38. Herc Holdings Inc. has a 52 week low of $96.19 and a 52 week high of $246.88. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.61 and a beta of 1.93.

Herc (NYSE:HRI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($1.21). Herc had a return on equity of 26.48% and a net margin of 5.91%. The business had revenue of $861.00 million during the quarter, compared to the consensus estimate of $841.67 million. During the same quarter in the prior year, the company earned $2.36 earnings per share. Equities research analysts expect that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.70 dividend. This is a boost from Herc's previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Tuesday, February 18th. Herc's dividend payout ratio is presently 62.36%.

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.