Oliver Luxxe Assets LLC Purchases New Holdings 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 disclosure with the Securities and Exchange Commission. The firm acquired 15,248 shares of the transportation company's stock, valued at approximately $2,047,000. Oliver Luxxe Assets LLC owned about 0.05% of Herc at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HRI. Jump Financial LLC increased its holdings in Herc by 401.7% during the 1st quarter. Jump Financial LLC now owns 30,412 shares of the transportation company's stock worth $4,083,000 after purchasing an additional 24,350 shares during the period. Ameriprise Financial Inc. lifted its position in Herc by 200.5% during the 1st quarter. Ameriprise Financial Inc. now owns 274,915 shares of the transportation company's stock worth $36,913,000 after acquiring an additional 183,433 shares during the period. Channing Capital Management LLC lifted its holdings in shares of Herc by 27.7% in the 1st quarter. Channing Capital Management LLC now owns 535,578 shares of the transportation company's stock valued at $71,912,000 after buying an additional 116,233 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Herc by 81.0% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 5,536 shares of the transportation company's stock worth $748,000 after purchasing an additional 2,477 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Herc by 18.4% in the 1st quarter. Hsbc Holdings PLC now owns 8,042 shares of the transportation company's stock worth $1,076,000 after purchasing an additional 1,247 shares during the period. 93.11% of the stock is owned by institutional investors.

Herc Stock Down 0.7%

HRI stock traded down $0.88 during trading on Friday, reaching $131.82. The stock had a trading volume of 50,421 shares, compared to its average volume of 515,354. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $246.88. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.37. The company has a market capitalization of $4.38 billion, a P/E ratio of 153.40, a PEG ratio of 1.56 and a beta of 1.86. The firm has a fifty day moving average price of $129.87 and a 200 day moving average price of $130.93.

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

Herc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.1%. Herc's dividend payout ratio is currently 325.58%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HRI. Robert W. Baird dropped their price target on Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. Citigroup dropped their price objective on Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Herc presently has a consensus rating of "Moderate Buy" and an average price target of $144.60.

Herc 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.