Oliver Luxxe Assets LLC Takes $2.05 Million Position in Herc Holdings Inc. $HRI

Key Points

• Oliver Luxxe Assets LLC has acquired 15,248 shares of Herc Holdings Inc., valued at approximately $2,047,000, representing 0.05% ownership in the company.
• A recent earnings report revealed Herc Holdings achieved an EPS of $1.87, significantly surpassing analyst expectations of $1.29, with revenue reaching $1 billion for the quarter.
• The company declared a quarterly dividend of $0.70 per share, which is scheduled to be paid on September 5th, representing an annualized yield of 2.2%.

Oliver Luxxe Assets LLC acquired a new stake in Herc Holdings Inc. (NYSE:HRI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,248 shares of the transportation company's stock, valued at approximately $2,047,000. Oliver Luxxe Assets LLC owned approximately 0.05% of Herc at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HRI. Allspring Global Investments Holdings LLC bought a new position in Herc during the 1st quarter valued at $11,259,000. D.A. Davidson & CO. lifted its holdings in shares of Herc by 9.6% in the first quarter. D.A. Davidson & CO. now owns 39,246 shares of the transportation company's stock valued at $5,270,000 after buying an additional 3,435 shares during the period. Handelsbanken Fonder AB boosted its stake in Herc by 8.0% during the first quarter. Handelsbanken Fonder AB now owns 6,758 shares of the transportation company's stock valued at $907,000 after buying an additional 500 shares in the last quarter. Millennium Management LLC boosted its stake in Herc by 1,221.2% during the fourth quarter. Millennium Management LLC now owns 40,732 shares of the transportation company's stock valued at $7,712,000 after buying an additional 37,649 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Herc by 3.9% during the first quarter. Rhumbline Advisers now owns 42,982 shares of the transportation company's stock worth $5,772,000 after acquiring an additional 1,601 shares during the period. Institutional investors and hedge funds own 93.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HRI shares. Robert W. Baird cut their price target on shares of Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. Citigroup cut their target price on shares of Herc from $170.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Herc has an average rating of "Moderate Buy" and a consensus target price of $144.60.

Herc Stock Down 2.4%

Shares of HRI stock traded down $3.20 on Tuesday, reaching $128.55. 380,166 shares of the company's stock traded hands, compared to its average volume of 584,699. The company has a market capitalization of $4.27 billion, a P/E ratio of 149.47, a price-to-earnings-growth ratio of 1.55 and a beta of 1.86. Herc Holdings Inc. has a 12-month low of $96.18 and a 12-month high of $246.88. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.15 and a current ratio of 1.15. The business's 50 day moving average price is $129.03 and its two-hundred day moving average price is $131.40.

Herc (NYSE:HRI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.58. Herc had a return on equity of 20.77% and a net margin of 0.61%.The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $868.23 million. On average, equities analysts forecast that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, August 22nd. Herc's dividend payout ratio (DPR) is currently 325.58%.

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.