Wells Fargo & Company MN Decreases Stock Holdings in Herc Holdings Inc. (NYSE:HRI)

Wells Fargo & Company MN lessened its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 39.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 46,948 shares of the transportation company's stock after selling 30,678 shares during the period. Wells Fargo & Company MN owned approximately 0.17% of Herc worth $8,889,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Herc by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 3,066,892 shares of the transportation company's stock valued at $580,655,000 after acquiring an additional 27,578 shares during the period. Norges Bank purchased a new stake in Herc in the 4th quarter worth about $183,786,000. American Century Companies Inc. lifted its stake in Herc by 0.8% in the fourth quarter. American Century Companies Inc. now owns 812,270 shares of the transportation company's stock worth $153,787,000 after purchasing an additional 6,777 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Herc by 1.1% during the third quarter. Geode Capital Management LLC now owns 637,070 shares of the transportation company's stock valued at $101,589,000 after buying an additional 6,874 shares during the period. Finally, Artemis Investment Management LLP bought a new position in shares of Herc during the fourth quarter valued at approximately $71,211,000. 93.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HRI. Citigroup dropped their price objective on Herc from $165.00 to $140.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Robert W. Baird lowered their target price on shares of Herc from $129.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $146.00 price objective (down from $171.00) on shares of Herc in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $157.20.

Herc Stock Up 10.3 %

Shares of Herc stock traded up $10.52 during trading on Wednesday, hitting $112.86. 161,244 shares of the stock traded hands, compared to its average volume of 355,747. Herc Holdings Inc. has a 52-week low of $96.19 and a 52-week high of $246.88. The stock's fifty day simple moving average is $136.05 and its 200 day simple moving average is $179.60. The firm has a market cap of $3.21 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.61 and a beta of 1.93. 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 (NYSE:HRI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The transportation company reported $1.30 EPS for the quarter, missing the consensus estimate of $2.51 by ($1.21). Herc had a net margin of 5.91% and a return on equity of 26.48%. 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 firm posted $2.36 EPS. On average, equities analysts predict that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.48%. This is a positive change from Herc's previous quarterly dividend of $0.67. Herc's dividend payout ratio is currently 37.79%.

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.