Seven Six Capital Management LLC Purchases New Shares in Herc Holdings Inc. $HRI

Key Points

• Seven Six Capital Management LLC acquired 17,925 shares of Herc Holdings Inc., valued at approximately $2.4 million, making it the fund's 20th largest holding.
• Herc announced a quarterly dividend of $0.70 per share, with a dividend yield of 2.0% and a dividend payout ratio (DPR) of 325.58%.
• Research firms have mixed ratings on Herc, with an average rating of "Moderate Buy" and a consensus target price of $144.60.

Seven Six Capital Management LLC bought a new stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,925 shares of the transportation company's stock, valued at approximately $2,407,000. Herc comprises approximately 2.2% of Seven Six Capital Management LLC's portfolio, making the stock its 20th largest holding. Seven Six Capital Management LLC owned 0.06% of Herc as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of HRI. Invesco Ltd. lifted its position in Herc by 104.7% during the first quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company's stock valued at $400,995,000 after acquiring an additional 1,527,244 shares during the last quarter. Coliseum Capital Management LLC raised its holdings in shares of Herc by 213.4% in the first quarter. Coliseum Capital Management LLC now owns 1,309,989 shares of the transportation company's stock worth $175,892,000 after buying an additional 891,979 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Herc by 135.6% in the first quarter. Alliancebernstein L.P. now owns 589,817 shares of the transportation company's stock worth $79,195,000 after buying an additional 339,519 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Herc by 200.5% in the first quarter. Ameriprise Financial Inc. now owns 274,915 shares of the transportation company's stock worth $36,913,000 after buying an additional 183,433 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Herc by 79.5% in the first quarter. Jennison Associates LLC now owns 299,527 shares of the transportation company's stock worth $40,217,000 after buying an additional 132,693 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HRI. Robert W. Baird decreased 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 decreased their price target on shares of Herc from $170.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Finally, Zacks Research raised shares of Herc from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.60.

Herc Stock Performance

NYSE:HRI traded down $2.56 during mid-day trading on Friday, hitting $126.64. The company's stock had a trading volume of 126,971 shares, compared to its average volume of 510,314. Herc Holdings Inc. has a 1 year low of $96.18 and a 1 year high of $246.88. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 147.28, a PEG ratio of 1.57 and a beta of 1.83. The business's fifty day moving average is $130.12 and its two-hundred day moving average is $127.12.

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

Herc Dividend Announcement

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

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.